In 2007, the Group acquired the petroleum exploration rights to the East Akzhar Exploration block. East Akzhar, a 602km2 exploration block, is located to the south of Aktobe in a region home to numerous oil and gas operations on the eastern fringe of the Caspian depression. East Akzhar is in close proximity to the Loktibai-Kenkiyak oil pipeline and the Kenkiyak-Atyrau gas pipeline.
The re-analysis of the available data on the exploration area was completed in 2007 and Kazakhmys Petroleum has started its shallow well drilling programme on the Elimisai (supersalt) section. This is expected to continue through to the end of H1 2008.
The main focus of the exploration activity is the Akhzar (subsalt) section which will be the subject of a 3D seismic survey during 2008. The results of the survey will be used to plan the location of future new deep wells. New deep well construction starts once the 3D seismic survey is completed.