Kazakh oil producer Asker Munai Exploration, which operates in the Atyrau Region, has significantly extended the development periods for its key blocks, according to its financial statements, as reported by infohub.kz.

In March 2026, the company signed an addendum to contract No. 1280 of 13 December 2003. The document extends the production period at the supra-salt subsoil block until March 2048.

In the same month, Asker Munai Exploration concluded a new contract for hydrocarbon production at a 759 sq km sub-salt unconventional sources block, valid until March 2065. Under the agreement, the group committed to allocate KZT 1.25 billion to finance geological exploration. The funds will be paid in equal installments from 2026 to 2030.

According to audited consolidated financial statements for 2025, approved on 18 September 2026, the company cut its net loss fivefold, from KZT 10.45 billion in 2024 to KZT 1.97 billion. For comparison, the loss stood at KZT 4.3 billion in 2023 and KZT 5 billion in 2022.

Nevertheless, the accumulated uncovered loss reached KZT 46.7 billion by the end of 2025, leaving equity deeply negative at minus KZT 23.31 billion, against charter capital of KZT 23.39 billion.

Asker Munai Exploration's assets grew over the year from KZT 32.17 billion to KZT 34.7 billion, of which KZT 30.96 billion is exploration and evaluation assets. Cash on accounts increased from KZT 32.6 million to KZT 355.9 million, with another KZT 132.8 million classified as restricted.

The company's liabilities rose to KZT 58.01 billion from KZT 53.52 billion in 2024. The bulk of the debt is long-term borrowings at KZT 46.51 billion. Short-term borrowings amount to KZT 2.54 billion, while provisions exceed KZT 7.96 billion.

Administrative expenses increased from KZT 487.2 million to KZT 647.4 million. However, the company avoided large-scale asset impairment: losses under this item fell from KZT 1.08 billion to KZT 19.1 million. Finance costs amounted to KZT 3.43 billion, while a positive foreign exchange difference brought KZT 1.87 billion, compared with a negative KZT 5.72 billion a year earlier.

The company conducted exploration and production at the Karatobe-Burbaytal and Kobyakovskaya blocks in the Atyrau Region. The work covers the 92.9 sq km supra-salt Burbaytal field at depths of up to 1.9 km and a 758.6 sq km sub-salt unconventional hydrocarbon block at depths of 5.0–6.7 km.

The sole shareholder with a 100% stake is Netherlands-based Petroleum Partners B.V. The ultimate controlling party is the open-ended investment fund Falcon NR&I Fund Sicav, registered in Malta.

Earlier, Kursiv wrote about the plans of the company owned by the Maltese fund to start gas production at the Burbaytal field.