Sapatek Munai has preferential access to exploration areas due to its relationship with the Government of Kazakhstan and the parent company. Along with pre-emptive rights to acquire existing oil and gas assets offered for sale, the Company has access to new blocks obtained by Sapatek Munai through direct negotiations with the state. This advantage allows the Company to replenish its exploration portfolio and effectively compete with the largest transnational oil corporations.
The company claims that the exploration potential in Kazakhstan is significant both onshore and offshore. Currently, Sapatek Munai is conducting offshore exploration in the Liman, Taisogan, R-9 areas, as well as in areas adjacent to the Uzen and Karamandybas fields. The land part of the country is well studied to a depth of 3-3.5 km. However, Sapatek Munay believes that under this depth, especially in the pre-salt horizons, there are great potential resources.
The Company plans to continue seismic surveys on existing exploration blocks and plans to drill exploration wells into pre-salt structures, as well as seek additions to the Company’s exploration portfolio, using Sapatek Munai’s right to negotiate directly with the Government for new exploration licenses.
The acquisition of exploration assets reflects Sapatek Munai’s updated strategy to shift its efforts to exploration: in March 2011, the Company acquired 100% of the shares of Urals Group Limited, which owns the license for the Fedorovsky block, four exploration blocks Temir, Teresken, Uzen-Karamandybas. and Karaton-Sarkamys in April 2021 and 100% in Karpovsky Severny JSC.