The history of the company began in the distant year of 1995. An agreement was reached between JSC “Kyrgyzneftegaz” and LLC “PetroKyrgyzstan” (Jersey) to create the joint venture CJSC “Kyrgyz Petroleum Company”. The shares were distributed evenly between the participants of this deal, 50/50. After signing an investment agreement with the Government of the Kyrgyz Republic in December 1995, the foreign investor allocated funds for financing obligations under the investment agreement, including the initial contribution for the construction of the oil refinery and the development of oil fields. The construction of the refinery in the city of Jalal-Abad began in January 1996 and was completed on schedule in September 1996. The grand opening of the CJSC “KPC” oil refinery took place on October 6, 1996.
In June 1996, the Company began developing fields using special equipment necessary for this activity in the Kyrgyz Republic. A preliminary technical assessment of the fields showed that hydraulic fracturing of oil-bearing strata is the most effective and profitable method to improve oil recovery. Research of 21 oil wells began in October 1996. By the end of 1996, the investor had fully met the obligations to invest the funds and continued to invest in the development of the refinery and fields.
Additional tanks and loading equipment for the refinery were installed. To increase the octane number of the produced gasoline, new technical improvements were carried out at the plant in 1998-2001. This was associated with the increase in the number of modern foreign-made cars imported by Kyrgyzstan.
In 2012, the Company suspended its oil production from its own wells and focused its attention on processing oil and other types of raw materials. November 6, 2012, became a historic date for the company. On this day, all necessary documents for the purchase of JSC “Kyrgyzneftegaz” of 50% of shares owned by “Petro Kyrgyzstan LTD” were fully executed. Thus, JSC “Kyrgyzneftegaz” became the sole shareholder of CJSC “Kyrgyz Petroleum Company”.
After acquiring CJSC “Kyrgyz Petroleum Company”, JSC “Kyrgyzneftegaz” became the only enterprise that has a complete production cycle, starting from geological exploration and oil extraction to the production and sale of petroleum products. Instead of foreign specialists, who had ceased their work in the company, a staff of new local specialists with sufficient knowledge and practice was hired. In March 2012, the employees of the enterprise created the “Primary Trade Union Organization”, which was registered in the Ministry of Justice in 2016 and has now become an independent public trade union organization, part of the Association of Trade Unions of JSC “KNG”.
Measures are being taken to modernize production. The Company is set ambitious tasks and a comprehensive set of measures for the development of the enterprise. The company continues to make all efforts aimed at efficient production of products and dynamic development of the enterprise, taking into account modern requirements and changes in the oil refining industry, improving quality, and close cooperation with partners.
The history of the company began in the distant year of 1995. An agreement was reached between JSC "Kyrgyzneftegaz" and LLC "PetroKyrgyzstan" (Jersey) to create the joint venture CJSC "Kyrgyz Petroleum Company". The shares were distributed evenly between the participants of this deal, 50/50. After signing an investment agreement with the Government of the Kyrgyz Republic in December 1995, the foreign investor allocated funds for financing obligations under the investment agreement, including the initial contribution for the construction of the oil refinery and the development of oil fields. The construction of the refinery in the city of Jalal-Abad began in January 1996 and was completed on schedule in September 1996. The grand opening of the CJSC "KPC" oil refinery took place on October 6, 1996.
In June 1996, the Company began developing fields using special equipment necessary for this activity in the Kyrgyz Republic. A preliminary technical assessment of the fields showed that hydraulic fracturing of oil-bearing strata is the most effective and profitable method to improve oil recovery. Research of 21 oil wells began in October 1996. By the end of 1996, the investor had fully met the obligations to invest the funds and continued to invest in the development of the refinery and fields.
Additional tanks and loading equipment for the refinery were installed. To increase the octane number of the produced gasoline, new technical improvements were carried out at the plant in 1998-2001. This was associated with the increase in the number of modern foreign-made cars imported by Kyrgyzstan.
In 2012, the Company suspended its oil production from its own wells and focused its attention on processing oil and other types of raw materials. November 6, 2012, became a historic date for the company. On this day, all necessary documents for the purchase of JSC "Kyrgyzneftegaz" of 50% of shares owned by "Petro Kyrgyzstan LTD" were fully executed. Thus, JSC "Kyrgyzneftegaz" became the sole shareholder of CJSC "Kyrgyz Petroleum Company".
After acquiring CJSC "Kyrgyz Petroleum Company", JSC "Kyrgyzneftegaz" became the only enterprise that has a complete production cycle, starting from geological exploration and oil extraction to the production and sale of petroleum products. Instead of foreign specialists, who had ceased their work in the company, a staff of new local specialists with sufficient knowledge and practice was hired. In March 2012, the employees of the enterprise created the "Primary Trade Union Organization", which was registered in the Ministry of Justice in 2016 and has now become an independent public trade union organization, part of the Association of Trade Unions of JSC "KNG".
Measures are being taken to modernize production. The Company is set ambitious tasks and a comprehensive set of measures for the development of the enterprise. The company continues to make all efforts aimed at efficient production of products and dynamic development of the enterprise, taking into account modern requirements and changes in the oil refining industry, improving quality, and close cooperation with partners.