KST OIL COMPANY, LLP Exploration
With KST OIL COMPANY, LLP, we carry out exploration works with the purpose of expanding the resource base. Exploration activities have been consistently delivering good results driven by the advanced exploration techniques and selection of the most promising areas based on research results. To increase the success of exploration drilling, step-by-step implementation of advanced technologies for processing and interpreting seismic data continued. In particular, innovative approaches to account for in homogeneities of the upper part of the column are used to minimize the forecast error for structures. At the design stage, finite-difference modeling of the wave field is carried out to select the optimal parameters of the seismic survey.
The Company has paralleled expertise operations, which allows to minimize risks associated with the development of new fields and shorten new project lead times. Proximity to export markets and own transportation infrastructure reduces the transportation expenses and improves cost efficiency of operations in the region targets for exploration. Oil and gas exploration encompasses the processes and methods involved in locating potential sites for oil and gas drilling and extraction.
Early oil and gas explorers relied upon surface signs like natural oil seeps, but developments in science and technology have made oil and gas exploration more efficient. Geological surveys are conducted using various means from testing subsoil for onshore exploration to using seismic imaging for offshore exploration.
Exploration is essential to our business. Our focus areas of international, and shale and tight resource plays in the Republic of Kazakhstan, we plan to drill 25 exploration and appraisal wells worldwide. Our technological capabilities are constantly evolving to meet new challenges and play a pivotal role in bringing new resource opportunities and proved reserves into production through major capital projects. Our robust project portfolio is poised to bring significant new resources to global markets.
As the Company conducts geological studies at license areas at the Kazakhstan continental shelf and internal seas. Licenses were granted for oil and gas exploration and production, production is in progress at 7 of them. License commitments are fulfilled in full.