According to the reserves audit report prepared by the international independent consulting firm DeGolyer and MacNaughton in line with the PRMS international standard, KMG’s proved plus probable hydrocarbon reserves (2P) were 707 mln toe (5.478 mln boe) as of 31 December 2021. 2P reserves increased by 9% year-on-year. The increase is mainly attributable to comprehensive initiatives in hydrocarbon reserves management, including the recalculation of hydrocarbon reserves at the Kalamkas and other fields, as well as the increase of the share in the Kashagan field from 8.44% to 16.88% (on 15 September 2022, KMG acquired a 50% stake in KMG Kashagan B.V. from Samruk-Kazyna) and improved macroeconomic environment (higher oil prices).

Net reservesNet Reserves are defined as the portion of gross reserves attributable to (1) the interest held by KMG after deducting all interests held by others, and (2) interests that are not held, but controlled by KMG. under PRMS as of 31 December 2022