As the Company is aware of the importance of its impact on the economy, the environment, and society, one of the key priorities of the Company’s Strategy remains the integration of sustainable development principles into key business processes. The Company’s growth over the next ten years will be secured by extending the resource base, enhancing the efficiency of present production, lengthening the value chain, introducing modern technologies, and lowering the carbon impact.

To develop a greener and better mobility system, we must migrate to alternate and sustainable feedstocks. Because of strict regulations and consumer behavior, biofuel consumption in Europe is expected to roughly triple by the end of this decade. Chemical and material demand will continue to rise as the world’s population grows, prosperity rises, and living standards rise. Many of the everyday electronics we use, such as computers and cellphones, are constructed of high-performance plastics.

They make our cars and planes lighter and more fuel-efficient, and they save lives by including safety features such as airbags, helmets, and medical equipment. Because of its features such as strength, flexibility, and, most importantly, low production costs, lightweight solutions are not only vital for modern healthy living, but they are also critical for building a low-carbon economy. We must, however, change the way we dispose of plastic. Plastics must be viewed as a component of the solution rather than a problem.

Moving from Fossil to Low-Carbon-Business

To reach our aim of becoming a net-zero firm, we will gradually lower our oil and gas production by 20% by 2050, and then completely cease producing oil and gas for energy use by 2050. We will continue to invest in traditional exploration and production until 2030, at which point our commitment will be significantly reduced. Gas will account for more than 60% of total energy consumption, highlighting its role as a transition energy that allows renewables to be utilised. Simultaneously, E&P will invest in geothermal energy and carbon capture and storage (CCS) in order to contribute to a more sustainable society by leveraging existing assets and skills.

The plan considers changes in Oloreso Petroleum’s asset portfolio, such as the growth of the petrochemical sector and the separation of Oloreso Petroleum into a separate national corporation, as well as the global trend of clean energy transition and carbon management. The Company understands the significance of its impact on the economy, ecology, and society, and will continue to integrate sustainable development principles into key business processes to ensure that economic, environmental, and social priorities, as well as corporate governance objectives, are consistent. Over the next ten years, the Company’s growth will be ensured by expanding its resource base, increasing the efficiency of current production, developing new processing, introducing modern technologies, and reducing its carbon footprint.

Mission We develop natural resources in an efficient and sensible manner to secure Kazakhstan’s energy security, progress, and prosperity while considering future generations.

Mission A national vertically integrated oil and gas firm that adheres to rigorous safety standards and sustainable development concepts in order to maximize financial outcomes.

Strategic goals

• Sufficient resource base to ensure the Company’s growth.
• Business diversification and product portfolio expansion.
• Sustainability and progressive reduction of the carbon intensity of production.
• Improving the Company’s value chain efficiency.
• Compliance with the legislation of the Republic of Kazakhstan and ensuring transparency of the Partnership activities.
• Ensuring steady growth and continuous improvement of efficiency of the Partnership activities.