EXPLORATION

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Exploration

Zheti Oil benefits from privileged access to exploration acreage due to its strong connections with the Kazakh government and its parent company. The company holds pre-emption rights to acquire existing oil and gas assets that are up for sale and can access new territories through direct negotiations with the government. This strategic advantage allows Zheti Oil to diversify its exploration portfolio and effectively compete with the world's leading oil companies.

The company believes that Kazakhstan presents significant offshore and onshore exploration potential. Zheti Oil is currently engaged in offshore exploration in the Liman, Taisogan, R-9 regions, and areas near the Uzen and Karamandybas fields. Surface exploration has been conducted up to a depth of 3-3.5 kilometers. However, Zheti Oil sees substantial untapped potential, particularly in the subsalt layers.

Zheti Oil aims to expand its exploration portfolio by leveraging its ability to negotiate directly with the government for additional exploration licenses, drilling exploratory wells targeting subsalt structures, and continuing seismic studies at existing exploration blocks. In March 2011, the company acquired four exploration blocks in Temir, Teresken, Uzen-Karamandybas, and Karaton-Sarkamys. In September 2018, Zheti Oil purchased 100 percent of LLP "SapaBarlauService" (now Zheti Oil Exploration assets) and 100 percent of LLP NBK. Additionally, in March 2017, the company acquired a 50 percent stake in "Urals Group Limited," which holds the license for the Fedorovskiy block.