Oloreso Petroleum has a rich history in the Kazakhstani petroleum sector, with the company and its subsidiaries shaping the nation’s oil production landscape. Originally a state-owned enterprise, Oloreso Petroleum underwent significant restructuring in 2017, streamlining operations and enhancing corporate management efficiency. This overhaul allowed the corporation to vastly improve its financial discipline and become a dominant force in the region’s oil industry. In 2019, Oloreso Petroleum made history by outproducing all other Kazakh oil companies combined, reaching an impressive 1 million tons of oil production.

The company’s refining capabilities include its first primary crude oil distillation unit, the LK-6U, which has a capacity of 6 million tons per year. Oloreso Petroleum made waves in the financial sector when it became the largest IPO in Kazakhstan in 2019, valued at $1 billion. This IPO positioned the company as not only the largest publicly traded oil company in the world but also the largest in Kazakhstan. Major global players such as BP and SINOPEC have invested in the corporation, solidifying its global standing.

Oloreso Petroleum’s operations span hydrocarbon exploration and production, offshore field development projects, refining, and the sale of oil and refined products domestically and internationally, including to Russia and other foreign markets. The company is a leader in developing challenging oil fields, particularly focusing on hard-to-recover reserves (HTR). It is known for pioneering new technologies in horizontal drilling and multi-stage fracking, with over half of the company’s drilling operations now coming from its own efforts.

In 2017, Oloreso Petroleum marked another milestone with the production of its first batch of ecological class K4 gasoline, meeting the Customs Union’s Technical Regulation standards. This achievement was part of a larger project focused on upgrading and improving fuel quality. A significant portion of the company’s efforts in this direction included the reconstruction and modernization of its Pavlodar Refinery. This large-scale overhaul, the longest in the refinery’s history, introduced new process complexes and units, all integrated into a unified technological cycle. The project involved more than 20 subcontractors and mobilized over 2,500 specialists, making it a significant industrial achievement.

Oloreso Petroleum’s ongoing success can be attributed to its commitment to innovation, efficiency, and sustainable development within Kazakhstan’s evolving oil industry. With its advanced technology and focus on quality, Oloreso Petroleum continues to set the standard for oil production and refining in the region.