Asset report

Altius Petroleum Contract Area (KNOC)

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Report summary

Altius Petroleum is majority-owned by Korea National Oil Company (KNOC) and operates four small oil fields in the Precaspian Basin. Akzhar (post-salt) is by far the largest and remains the focus of development. Aggregate production is expected to stabilise between 2015 and 2018, with more than 75% of output from Akzhar. Production at the core field has declined, but is expected to rebound slightly in the next few years. The other three fields lie remote from Akzhar in an area closer to Atyrau. All four fields exploit shallow reservoirs and were discovered more than 50 years ago. However, they have only been developed since 2000. The operator previously thought there to be deeper potential on its acreage, notably on the Alimbai block. However, no further discoveries have been made and the exploration periods of all four licences have now expired. Alimbai was the last to enter the production phase, with its development plan approved in January 2014.

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  • Document

    Altius Petroleum Contract Area (KNOC)

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    Altius Petroleum Contract Area (KNOC)

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Table of contents

Tables and charts

This report includes 24 images and tables including:


  • Index map
  • Altius Petroleum Contract Area map
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2018
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2018)
  • Remaining PV Price Sensitivities
  • Altius Petroleum Contract Area production profile


  • Key facts: Table 1
  • Exploration: Table 1
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Cash Flow
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Participation: Table 1
  • Geology: Table 1
  • Geology: Table 2
  • Production: Table 1
  • Production: Table 2
  • Infrastructure: Table 1
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3

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