The Emir Oil Contract Area is located in southwest Kazakhstan and contains eight oil fields; Aksaz, Dolinnoe, Emir, Kariman, Kariman North, Borly, Aidai and Yessen. In 2011, MIE Holdings (China) bought Emir Oil and increased investment. Reach Energy (Malaysia) acquired a 60% stake in 2016 for US$175.9 million.Four production contracts have been awarded for individual fields, while exploration and appraisal continue on the wider licence area.
Emir-Oil Project is located in the Mangshrak Basin in west Kazakhstan, with a total cooperation area of 210,000 acres, of which the production contract area is 11,100 acres. Reach Energy Berhad, a listed private oil company in Malaysia, holds 60% of the equity interest and MIE holds 40%.
Emir-Oil Project currently has four blocks with production permit, where the commercial production began in 2011 with a production period of 25 years. As of the end of 2017, the cumulative oil production was 12.05 million barrels. In 2017, the average daily oil production was 2,279 barrels/day, and the total number of open wells was 24; the output reached 1.85 million barrels in 2014, the highest annual output in history.
As of the end of 2016, the remaining recoverable reserves of 2P were 81.14 million barrels.
Company behavior
On January 2, 2014, HBP received a notification of award from Emir-Oil, LLC (Emir-Oil), confirming HBP as the successful bidder for Emir-Oil's oilfield oil & gas processing station project in Kazakhstan with a contract value of 24.486 million US dollars (approximately 149 million yuan).
Company behavior
On January 2, 2014, HBP received a notification of award from Emir-Oil, LLC (Emir-Oil), confirming HBP as the successful bidder for Emir-Oil's oilfield oil & gas processing station project in Kazakhstan with a contract value of 24.486 million US dollars (approximately 149 million yuan).