Exhibit 15.5

February 9, 2021

China National Oil and Gas Exploration

And Development Corporation

International Holding Ltd (“CNODCI”)

No.6-1 Fuchengmen Beidajie

Xicheng District

Beijing, China 100034

Attention: Mr. Ye Xian Deng, President

Reference: CNODCI Interest in PetroKazakhstan Inc.

Evaluation of Crude Oil Reserves

Third Party Report

Dear Sir:

1. INTRODUCTION

McDaniel & Associates Consultants Ltd. (“McDaniel”) was requested by PetroKazakhstan Inc. (“PKI”) to prepare an evaluation of the crude oil reserves and the net present values of these reserves for the interests of PKI in the South Turgai Basin, Republic of Kazakhstan, effective as of December 31, 2020. McDaniel submitted to PKI an Executive Summary Report and Detailed Technical Report for the evaluation of PKI in January 2021.

PKI is an integrated oil and gas company, owned 67 percent by CNODCI and 33 percent by JSC KazMunaiGas Exploration Production (“KMG EP”). PKI requested McDaniel to prepare this Third-Party Report for CNODCI based on the 67 percent interest owned by CNODCI in PKI for the assets of CNODCI that are held within three operating subsidiaries: PetroKazakhstan Kumkol Resources (“PKKR”), Kolzhan LLP (“Kolzhan”) and PetroKazakhstan Ventures Inc. (“PKVI”).

This report was prepared to support PKI’s and CNODCI’s annual securities filings with the SEC. The data employed in this evaluation and the assumptions and procedures used to estimate the reserves and net present values are consistent with standard industry reserves evaluation procedures.

2200, Bow Valley Square 3, 255 - 5 Avenue SW, Calgary AB T2P 3G6    Tel: (403) 262-5506    Fax: (403) 233-2744    www.mcdan.com

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Evaluation of Oil and Gas Reserves – Third Party Report	February 9, 2021

2. METHODOLOGY

Crude oil reserves estimates and their associated net present values were evaluated in this report by McDaniel. for the interests of PKI in Kazakhstan.

Essentially all of the basic information employed in the preparation of this report was obtained from PKI including geological, geophysical, engineering and financial data. McDaniel utilized this data to prepare an independent assessment of the crude oil reserves as of December 31, 2020. The reserves estimates presented in this report have been prepared in accordance with the United States Securities and Exchange Commission (SEC) reserves definitions and guidance (see Section 3). Only the proved reserves and sub-classifications were included in this report.

Net present value estimates were calculated based on future revenue forecasts. As per SEC guidelines, the future net revenues and net present values presented were calculated using the first day of the month crude oil prices for each of the 12 months prior to the effective date of December 31, 2020 and were presented in United States dollars. No escalation of the prices were made nor were the operating and capital costs increased for inflation in this evaluation. Future capital costs and operating costs were based on PKI budgets for each respective property with adjustments as deemed appropriate by McDaniel.    

3. RESERVES DEFINITIONS

The SEC reserves definitions are contained in the Final Rule of Modernization of Oil and Gas Reporting (17 CFR Parts 210, 211, 229 and 249) published by the SEC Regulation on January 14, 2009. A summary of the key proved reserves definitions in Regulation S-X 210.4-10 is presented below.

Reserves

Reserves are estimated remaining quantities of oil and gas and related substances anticipated to be economically producible, as of a given date, by application of development projects to known accumulations. In addition, there must exist, or there must be a reasonable expectation that there will exist, the legal right to produce or a revenue interest in the production, installed means of delivering oil and gas or related substances to market, and all permits and financing required to implement the project.

Note: Reserves should not be assigned to adjacent reservoirs isolated by major, potentially sealing, faults until those reservoirs are penetrated and evaluated as economically producible. Reserves should not be assigned to areas that are clearly separated from a known accumulation by a non- productive reservoir (i.e., absence of reservoir, structurally low reservoir, or negative test results). Such areas may contain prospective resources (i.e., potentially recoverable resources from undiscovered accumulations).

Proved Oil and Gas Reserves

Proved oil and gas reserves are those quantities of oil and gas, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible—from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations—prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. The project to extract the hydrocarbons must have commenced or the operator must be reasonably certain that it will commence the project within a reasonable time.

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Evaluation of Oil and Gas Reserves – Third Party Report	February 9, 2021

(i) The area of the reservoir considered as proved includes:

(A) The area identified by drilling and limited by fluid contacts, if any, and

(B) Adjacent undrilled portions of the reservoir that can, with reasonable certainty, be judged to be continuous with it and to contain economically producible oil or gas on the basis of available geoscience and engineering data.

(ii) In the absence of data on fluid contacts, proved quantities in a reservoir are limited by the lowest known hydrocarbons (LKH) as seen in a well penetration unless geoscience, engineering, or performance data and reliable technology establishes a lower contact with reasonable certainty.

(iii) Where direct observation from well penetrations has defined a highest known oil (HKO) elevation and the potential exists for an associated gas cap, proved oil reserves may be assigned in the structurally higher portions of the reservoir only if geoscience, engineering, or performance data and reliable technology establish the higher contact with reasonable certainty.

(iv) Reserves which can be produced economically through application of improved recovery techniques (including, but not limited to, fluid injection) are included in the proved classification when:

(A) Successful testing by a pilot project in an area of the reservoir with properties no more favorable than in the reservoir as a whole, the operation of an installed program in the reservoir or an analogous reservoir, or other evidence using reliable technology establishes the reasonable certainty of the engineering analysis on which the project or program was based; and

(B) The project has been approved for development by all necessary parties and entities, including governmental entities.

(v) Existing economic conditions include prices and costs at which economic producibility from a reservoir is to be determined. The price shall be the average price during the 12-month period prior to the ending date of the period covered by the report, determined as an unweighted arithmetic average of the first-day-of-the-month price for each month within such period, unless prices are defined by contractual arrangements, excluding escalations based upon future conditions.

Analogous Reservoir

Analogous reservoirs, as used in resources assessments, have similar rock and fluid properties, reservoir conditions (depth, temperature, and pressure) and drive mechanisms, but are typically at a more advanced stage of development than the reservoir of interest and thus may provide concepts to assist in the interpretation of more limited data and estimation of recovery. When used to support proved reserves, an “analogous reservoir” refers to a reservoir that shares the following characteristics with the reservoir of interest:

(i) Same geological formation (but not necessarily in pressure communication with the reservoir of interest);

(ii) Same environment of deposition; (iii) Similar geological structure; and (iv) Same drive mechanism.

Reasonable Certainty

If deterministic methods are used, reasonable certainty means a high degree of confidence that the quantities will be recovered. If probabilistic methods are used, there should be at least a 90 percent probability th

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Evaluation of Oil and Gas Reserves – Third Party Report	February 9, 2021

at the quantities actually recovered will equal or exceed the estimate. A high degree of confidence exists if the quantity is much more likely to be achieved than not, and, as changes due to increased availability of geoscience (geological, geophysical, and geochemical), engineering, and economic data are made to estimated ultimate recovery (EUR) with time, reasonably certain EUR is much more likely to increase or remain constant than to decrease.

4. EVALUATION SUMMARY

4.1 NET RESERVES

The net share of proved developed, proved undeveloped and total proved crude oil reserves as of December 31, 2020 attributable to CNODCI for each of the three subsidiary companies are summarized below.

CNODCI’S NET ENTITLEMENT OF PROVED RESERVES ⁽¹⁾

AS OF DECEMBER 31, 2020

	Proved Developed		Proved Undeveloped		Total Proved
Crude Oil, Mbbl
PKKR		10,644		1,290		11,934
Kolzhan		5,224		2,289		7,514
PKVI		586		200		785
Total		16,454		3,779		20,233

(1) Net entitlement reserves are the working interest reserves in each property after deducting royalties payable to others. In the case of all properties, there are no royalties payable to others.

4.2 GROSS RESERVES

The total proved developed, proved undeveloped and total proved crude oil reserves as of December 31, 2020 for each of the three subsidiary companies are presented below for reference purposes only. These gross reserves estimates are based on a 100 percent working interest in each of the properties and include all reserves attributable to government and working interest partners.    

GROSS PROVED RESERVES

AS OF DECEMBER 31, 2020

	Proved Developed		Proved Undeveloped		Total Proved
Crude Oil, Mbbl
PKKR		15,886		1,925		17,811
Kolzhan		12,554		5,867		18,421
PKVI		1,165		397		1,562
Total		29,605		8,189		37,794

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Evaluation of Oil and Gas Reserves – Third Party Report	February 9, 2021

4.3 NET PRESENT VALUES

The net present values for the proved developed, proved undeveloped and total proved crude oil reserves as of December 31, 2020 attributable to CNODCI for each of the three subsidiary companies are presented below. All of the net present values have been presented at a 10 percent discount rate.

CNODCI NET PRESENT VALUES DISCOUNTED AT 10 PERCENT

AS OF DECEMBER 31, 2020, $MM

	Proved Developed		Proved Undeveloped		Total Proved
PKKR		35		8		44
Kolzhan		42		24		65
PKVI		3		2		5
Total		80		34		114

4.4 NET PRESENT VALUES SENSITIVITY ANALYSIS

A sensitivity analysis has been prepared for the net present values for the proved developed, proved undeveloped and total proved crude oil reserves as of December 31, 2020 attributable to CNODCI for each of the three subsidiary companies. At the request of PKI, all of the oil prices, capital costs and operating costs have been escalated at two percent per year throughout the evaluation period.

CNODCI NET PRESENT VALUES SENSITIVITY DISCOUNTED AT 10 PERCENT

AS OF DECEMBER 31, 2020, $MM

	Proved Developed		Proved Undeveloped		Total Proved
PKKR		30		7		37
Kolzhan		40		23		63
PKVI		3		2		5
Total		73		32		105

5 SUMMARY TABLES

Summary tables showing the reserves, reserves reconciliation, future production forecasts and future revenue forecasts are presented in the Appendix for each of the three subsidiary companies.    

6 BASIS OF OPINION

McDaniel & Associates Consultants Ltd. has over 60 years of experience in the evaluation of oil and gas properties. McDaniel is registered with the Association of Professional Engineers and Geoscientists of Alberta (APEGA). All of the professionals involved in the preparation of this report have in excess of five years of experience in the evaluation of oil and gas properties. Mr. Cam Boulton, Executive Vice President, supervised the preparation of this report. Mr. Boulton is a professional engineer registered with APEGA and has over 10 years of experience in the evaluation of oil and gas properties. All of the persons involved in the preparation of this report and McDaniel & Associates are independent of PKI and CNODCI.

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Evaluation of Oil and Gas Reserves – Third Party Report	February 9, 2021

In preparing this report, we relied upon certain factual information including ownership, well data, production data, prices, revenues, operating costs, capital costs, contracts, and other relevant data supplied by PKI. The supplied information was only relied upon where in our opinion it appeared reasonable and consistent with our knowledge of the properties; however, no independent verification of the information was made.

This report was prepared by McDaniel for the use of PKI and CNODCI for its securities filings with the SEC and is not to be used for any other purpose without the knowledge and consent of McDaniel & Associates Consultants Ltd.

We reserve the right to revise any estimates provided herein if any relevant data existing prior to preparation of this report was not made available, if any data between the preparation date and the evaluation date of this evaluation were to vary significantly from that forecast, or if any data provided was found to be erroneous.

Sincerely,

McDANIEL & ASSOCIATES CONSULTANTS LTD.

APEGA PERMIT NUMBER: P3145

/s/ Cameron T. Boulton

Cameron T. Boulton, P. Eng.

Executive Vice President

February 9, 2021

CTB:jep

[20-0115]

CERTIFICATE OF QUALIFICATION

I, Cameron Boulton, Petroleum Engineer of 2200, 255 - 5th Avenue, S.W., Calgary, Alberta, Canada hereby certify:

1. That I am an Executive Vice President of McDaniel & Associates Consultants Ltd., APEGA Permit Number P3145, which Company did prepare, at the request of PetroKazakhstan Overseas Services Inc., the report entitled “CNODCI Interest in PetroKazakstan Inc. Evaluation of Crude Oil Reserves, Third Party Report, As of December 31, 2020”, dated February 9, 2021, and that I was involved in the preparation of this report. I am also registered as a Responsible Member as outlined by APEGA for McDaniel & Associates Consultant Ltd. APEGA Permit Number 3145.

2. That I attended the Queen’s University in the years 2002 to 2006 and that I graduated with a Bachelor of Science degree in Chemical Engineering, that I am a registered Professional Engineer with the Association of Professional Engineers and Geoscientists of Alberta and that I have in excess of 10 years of experience in oil and gas reservoir studies and evaluations.

3. That I have no direct or indirect interest in the properties or securities of PetroKazakhstan Overseas Services Inc., nor do I expect to receive any direct or indirect interest in the properties or securities of PetroKazakhstan Overseas Services Inc., or any affiliate thereof.

4. That the aforementioned report was not based on a personal field examination of the properties in question, however, such an examination was not deemed necessary in view of the extent and accuracy of the information available on the properties in question.

/s/ Calgary

Calgary, Alberta

Dated: February 9, 2021

Prices: SEC January 1, 2021 Eff. Date: December 31, 2020 Currency: USD	CNODCI Interest in PKI PetroKazakhstan Kumkol Resources Summary of Reserves and Net Present Values SEC Prices and Costs as of December 31, 2020	Table 1
	Total Kazakhstan

Summary of Reserves (1)(2)

	Crude Oil Reserves - Barrels						Natural Gas Reserves						Natural Gas Liquids Reserves
Reserve Category	Property Gross Mbbl		Company Gross Mbbl		Company Net Mbbl		Property Gross MMcf		Company Gross MMcf		Company Net MMcf		Property Gross Mbbl		Company Gross Mbbl		Company Net Mbbl
Proved Developed Reserves		15,886		10,644		10,644		—		—		—		—		—		—
Proved Undeveloped Reserves		1,925		1,290		1,290		—		—		—		—		—		—
Total Proved Reserves		17,811		11,934		11,934		—		—		—		—		—		—

	Crude Oil Reserves - Tonnes						BOE Reserves (3)
Reserve Category	Property Gross MT		Company Gross MT		Company Net MT		Property Gross Mbbl		Company Gross Mbbl		Company Net Mbbl
Proved Developed Reserves		2,003		1,342		1,342		15,886		10,644		10,644
Proved Undeveloped Reserves		239		160		160		1,925		1,290		1,290
Total Proved Reserves		2,242		1,502		1,502		17,811		11,934		11,934

Summary of Company Share of Net Present Values Before Income Taxes

	$MM US Dollars
Reserve Category	0.0%		5.0%		10.0%		15.0%		20.0%
Proved Developed Reserves		32		34		35		36		36
Proved Undeveloped Reserves		8		8		8		8		7
Total Proved Reserves		40		42		44		44		44
Summary of Company Share of Net Present Values After Income Taxes
	$MM US Dollars
Reserve Category	0.0%		5.0%		10.0%		15.0%		20.0%
Proved Developed Reserves		18		20		22		24		25
Proved Undeveloped Reserves		5		6		6		5		5
Total Proved Reserves		22		26		28		29		30

(1) The above reserves estimates are presented after applying license expiry and economic limit cutoffs.

(2) Company Gross reserves are based on Company working interest share of the reserves for each property. Company Net reserves are the working interest reserves in each property after deducting royalties payable to others. In the case of all properties, there are no royalties payable to others.

(3) Based on a gas to BOE conversion of 6:1

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Prices: SEC January 1, 2021 Eff. Date: December 31, 2020 Currency: USD CNODCI Interest in PKI PetroKazakhstan Kumkol Resources Forecast of Production and Revenues SEC Prices and Costs as of December 31, 2020 Proved Developed Reserves Total Kazakhstan                                      Table 2

Property Gross Share of Production and Gross Revenues

			Crude Oil										Natural Gas						Natural Gas Liquids						Total Sales Revenue US$MM
Year	Producing Well Count		Daily Rate Bopd		Annual Volume Mbbl		Annual Volume MT		Crude Oil Price US$/bbl		Sales Revenue US$MM		Annual Volume MMcf		Natural Gas Price US$/Mcf		Sales Revenue US$MM		Annual Volume Mbbl		NGL Price US$/bbl		Sales Revenue US$MM
2021		417		15,563		5,680		715		24		138		—		—		—		—		—		—		138
2022		381		12,704		4,637		584		25		118		—		—		—		—		—		—		118
2023		326		8,929		3,259		412		25		83		—		—		—		—		—		—		83
2024		198		5,000		1,825		230		25		46		—		—		—		—		—		—		46
2025		56		1,304		476		62		25		12		—		—		—		—		—		—		12
2026		2		23		9		1		25		0		—		—		—		—		—		—		0
2027		—		—		—		—		—		—		—		—		—		—		—		—		—
2028		—		—		—		—		—		—		—		—		—		—		—		—		—
2029		—		—		—		—		—		—		—		—		—		—		—		—		—
2030		—		—		—		—		—		—		—		—		—		—		—		—		—
2031		—		—		—		—		—		—		—		—		—		—		—		—		—
2032		—		—		—		—		—		—		—		—		—		—		—		—		—
2033		—		—		—		—		—		—		—		—		—		—		—		—		—
2034		—		—		—		—		—		—		—		—		—		—		—		—		—
2035		—		—		—		—		—		—		—		—		—		—		—		—		—
Rem.		—		—		—		—		—		—		—		—		—		—		—		—		—
Total						15,886		2,003				397		—				—		—				—		397

Property Gross Share of Royalties, Expenses, Taxes and Net Cash Flow

Year	Total MET US$MM		Total MET %		Export Rent Tax US$MM		Export Rent Tax %		Total Operating Costs US$MM		Aband. Costs US$MM		Capital Costs US$MM		Hist. Costs & Com. Bonus US$MM		Net Cash Flow B. Tax US$MM			Property Tax US$MM		Corporate Tax US$MM		Excess Profits Tax US$MM		Net Cash Flow A. Tax US$MM
2021		3		2		2		2		69		1		12		—		52			0		6		3		42
2022		4		3		6		5		60		1		12		—		36			0		4		3		28
2023		3		3		4		5		51		25		7		—		(7	)		0		2		1		(10	)
2024		2		4		2		5		33		23		1		—		(15	)		0		0		—		(15	)
2025		0		4		1		5		10		15		0		—		(15	)		0		—		—		(15	)
2026		0		4		0		5		0		3		—		—		(2	)		0		—		—		(2	)
2027		—		—		—		—		—		—		—		—		—			—		—		—		—
2028		—		—		—		—		—		—		—		—		—			—		—		—		—
2029		—		—		—		—		—		—		—		—		—			—		—		—		—
2030		—		—		—		—		—		—		—		—		—			—		—		—		—
2031		—		—		—		—		—		—		—		—		—			—		—		—		—
2032		—		—		—		—		—		—		—		—		—			—		—		—		—
2033		—		—		—		—		—		—		—		—		—			—		—		—		—
2034		—		—		—		—		—		—		—		—		—			—		—		—		—
2035		—		—		—		—		—		—		—		—		—			—		—		—		—
Rem.		—		—		—		—		—		—		—		—		—			—		—		—		—
Total		12		3		15		4		223		68		31		—		48			2		13		7		26

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Company Working Interest Share Summary

Year	Gross Annual Oil Prod. Mbbl		Net Annual Oil Prod. Mbbl		Net Annual Gas Prod. MMcf		Net Annual NGL Prod. Mbbl		Gross Sales Revenue US$MM		Total MET US$MM		Export Tax US$MM		Operating & Aband. Costs US$MM		Capital Costs US$MM		Hist. Costs & Com. Bonus US$MM		Net Cash Flow B. Tax US$MM			Total Taxes US$MM		Net Cash Flow A. Tax US$MM
2021		3,806		3,806		—		—		92		2		2		46		8		—		35			7		28
2022		3,107		3,107		—		—		79		3		4		41		8		—		24			5		18
2023		2,184		2,184		—		—		55		2		3		51		5		—		(5	)		2		(7	)
2024		1,223		1,223		—		—		31		1		1		38		0		—		(10	)		0		(10	)
2025		319		319		—		—		8		0		0		17		0		—		(10	)		0		(10	)
2026		6		6		—		—		0		0		0		2		—		—		(2	)		0		(2	)
2027		—		—		—		—		—		—		—		—		—		—		—			—		—
2028		—		—		—		—		—		—		—		—		—		—		—			—		—
2029		—		—		—		—		—		—		—		—		—		—		—			—		—
2030		—		—		—		—		—		—		—		—		—		—		—			—		—
2031		—		—		—		—		—		—		—		—		—		—		—			—		—
2032		—		—		—		—		—		—		—		—		—		—		—			—		—
2033		—		—		—		—		—		—		—		—		—		—		—			—		—
2034		—		—		—		—		—		—		—		—		—		—		—			—		—
2035		—		—		—		—		—		—		—		—		—		—		—			—		—
Rem.		—		—		—		—		—		—		—		—		—		—		—			—		—
Total		10,644		10,644		—		—		266		8		10		195		21		—		32			15		18

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Prices: SEC January 1, 2021 Eff. Date: December 31, 2020 Currency: USD	CNODCI Interest in PKI PetroKazakhstan Kumkol Resources Forecast of Production and Revenues SEC Prices and Costs as of December 31, 2020 Total Proved Reserves	Table 3
	Total Kazakhstan

Property Gross Share of Production and Gross Revenues

			Crude Oil										Natural Gas						Natural Gas Liquids						Total Sales Revenue US$MM
Year	Producing Well Count		Daily Rate Bopd		Annual Volume Mbbl		Annual Volume MT		Crude Oil Price US$/bbl		Sales Revenue US$MM		Annual Volume MMcf		Natural Gas Price US$/Mcf		Sales Revenue US$MM		Annual Volume Mbbl		NGL Price US$/bbl		Sales Revenue US$MM
2021		422		16,123		5,885		740		24		143		—		—		—		—		—		—		143
2022		390		14,008		5,113		643		25		130		—		—		—		—		—		—		130
2023		339		10,168		3,711		468		25		94		—		—		—		—		—		—		94
2024		213		5,855		2,137		269		25		54		—		—		—		—		—		—		54
2025		80		2,167		791		101		25		20		—		—		—		—		—		—		20
2026		12		452		165		21		25		4		—		—		—		—		—		—		4
2027		2		19		7		1		25		0		—		—		—		—		—		—		0
2028		—		—		—		—		—		—		—		—		—		—		—		—		—
2029		—		—		—		—		—		—		—		—		—		—		—		—		—
2030		—		—		—		—		—		—		—		—		—		—		—		—		—
2031		—		—		—		—		—		—		—		—		—		—		—		—		—
2032		—		—		—		—		—		—		—		—		—		—		—		—		—
2033		—		—		—		—		—		—		—		—		—		—		—		—		—
2034		—		—		—		—		—		—		—		—		—		—		—		—		—
2035		—		—		—		—		—		—		—		—		—		—		—		—		—
Rem.		—		6		2		0		25		0		—		—		—		—		—		—		0
Total						17,811		2,242				445		—				—		—				—		445

Property Gross Share of Royalties, Expenses, Taxes and Net Cash Flow

Year	Total MET US$MM		Total MET %		Export Rent Tax US$MM		Export Rent Tax %		Total Operating Costs US$MM		Aband. Costs US$MM		Capital Costs US$MM		Hist. Costs & Com. Bonus US$MM		Net Cash Flow B. Tax US$MM			Property Tax US$MM		Corporate Tax US$MM		Excess Profits Tax US$MM		Net Cash Flow A. Tax US$MM
2021		3		2		3		2		69		1		15		—		52			0		7		4		41
2022		4		3		6		5		62		1		14		—		42			0		6		4		32
2023		3		3		5		5		53		25		9		—		(1	)		0		3		1		(5	)
2024		2		4		2		5		35		23		3		—		(12	)		0		1		0		(13	)
2025		1		4		1		5		17		16		0		—		(15	)		0		0		—		(15	)
2026		0		4		0		5		4		0		—		—		(1	)		0		—		—		(1	)
2027		0		4		0		5		0		3		—		—		(2	)		0		—		—		(2	)
2028		—		—		—		—		—		—		—		—		—			—		—		—		—
2029		—		—		—		—		—		—		—		—		—			—		—		—		—
2030		—		—		—		—		—		—		—		—		—			—		—		—		—
2031		—		—		—		—		—		—		—		—		—			—		—		—		—
2032		—		—		—		—		—		—		—		—		—			—		—		—		—
2033		—		—		—		—		—		—		—		—		—			—		—		—		—
2034		—		—		—		—		—		—		—		—		—			—		—		—		—
2035		—		—		—		—		—		—		—		—		—			—		—		—		—
Rem.		0		4		0		5		5		—		—		—		(5	)		0		—		—		(5	)
Total		14		3		17		4		245		69		41		—		59			2		15		9		33

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Company Working Interest Share Summary

Year	Gross Annual Oil Prod. Mbbl		Net Annual Oil Prod. Mbbl		Net Annual Gas Prod. MMcf		Net Annual NGL Prod. Mbbl		Gross Sales Revenue US$MM		Total MET US$MM		Export Tax US$MM		Operating & Aband. Costs US$MM		Capital Costs US$MM		Hist. Costs & Com. Bonus US$MM		Net Cash Flow B. Tax US$MM			Total Taxes US$MM		Net Cash Flow A. Tax US$MM
2021		3,943		3,943		—		—		96		2		2		47		10		—		35			7		27
2022		3,426		3,426		—		—		87		3		4		42		9		—		28			7		22
2023		2,487		2,487		—		—		63		2		3		53		6		—		(1	)		3		(3	)
2024		1,432		1,432		—		—		36		1		2		39		2		—		(8	)		1		(8	)
2025		530		530		—		—		13		1		1		22		0		—		(10	)		0		(10	)
2026		111		111		—		—		3		0		0		3		—		—		(0	)		0		(0	)
2027		5		5		—		—		0		0		0		2		—		—		(2	)		0		(2	)
2028		—		—		—		—		—		—		—		—		—		—		—			—		—
2029		—		—		—		—		—		—		—		—		—		—		—			—		—
2030		—		—		—		—		—		—		—		—		—		—		—			—		—
2031		—		—		—		—		—		—		—		—		—		—		—			—		—
2032		—		—		—		—		—		—		—		—		—		—		—			—		—
2033		—		—		—		—		—		—		—		—		—		—		—			—		—
2034		—		—		—		—		—		—		—		—		—		—		—			—		—
2035		—		—		—		—		—		—		—		—		—		—		—			—		—
Rem.		1		1		—		—		0		0		0		3		—		—		(3	)		0		(3	)
Total		11,934		11,934		—		—		298		9		11		211		28		—		40			18		22

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Prices: SEC January 1, 2021 Eff. Date: December 31, 2020 Currency: USD	CNODCI Interest in PKI Kolzhan LLP Summary of Reserves and Net Present Values SEC Prices and Costs as of December 31, 2020	Table 1
	Total Kazakhstan

Summary of Reserves (1)(2)

	Crude Oil Reserves - Barrels						Natural Gas Reserves						Natural Gas Liquids Reserves
Reserve Category	Property Gross Mbbl		Company Gross Mbbl		Company Net Mbbl		Property Gross MMcf		Company Gross MMcf		Company Net MMcf		Property Gross Mbbl		Company Gross Mbbl		Company Net Mbbl
Proved Developed Reserves		12,554		5,224		5,224		—		—		—		—		—		—
Proved Undeveloped Reserves		5,867		2,289		2,289		—		—		—		—		—		—
Total Proved Reserves		18,421		7,514		7,514		—		—		—		—		—		—

	Crude Oil Reserves - Tonnes						BOE Reserves (3)
Reserve Category	Property Gross MT		Company Gross MT		Company Net MT		Property Gross Mbbl		Company Gross Mbbl		Company Net Mbbl
Proved Developed Reserves		1,605		664		664		12,554		5,224		5,224
Proved Undeveloped Reserves		752		292		292		5,867		2,289		2,289
Total Proved Reserves		2,358		956		956		18,421		7,514		7,514

Summary of Company Share of Net Present Values Before Income Taxes

	$MM US Dollars
Reserve Category	0.0%		5.0%		10.0%		15.0%		20.0%
Proved Developed Reserves		51		46		42		38		36
Proved Undeveloped Reserves		34		28		24		20		17
Total Proved Reserves		85		74		65		58		53

Summary of Company Share of Net Present Values After Income Taxes

	$MM US Dollars
Reserve Category	0.0%		5.0%		10.0%		15.0%		20.0%
Proved Developed Reserves		35		31		28		26		24
Proved Undeveloped Reserves		21		17		14		11		9
Total Proved Reserves		55		48		42		37		33

(1) The above reserves estimates are presented after applying license expiry and economic limit cutoffs.

(2) Company Gross reserves are based on Company working interest share of the reserves for each property. Company Net reserves are the working interest reserves in each property after deducting royalties payable to others. In the case of all properties, there are no royalties payable to others.

(3) Based on a gas to BOE conversion of 6:1

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Prices: SEC January 1, 2021 Eff. Date: December 31, 2020 Currency: USD CNODCI Interest in PKI Kolzhan LLP Forecast of Production and Revenues SEC Prices and Costs as of December 31, 2020 Proved Developed Reserves Total Kazakhstan                 Table 2

Property Gross Share of Production and Gross Revenues

			Crude Oil										Natural Gas						Natural Gas Liquids						Total Sales Revenue US$MM
Year	Producing Well Count		Daily Rate Bopd		Annual Volume Mbbl		Annual Volume MT		Crude Oil Price US$/bbl		Sales Revenue US$MM		Annual Volume MMcf		Natural Gas Price US$/Mcf		Sales Revenue US$MM		Annual Volume Mbbl		NGL Price US$/bbl		Sales Revenue US$MM
2021		131		9,415		3,436		440		24		83		—		—		—		—		—		—		83
2022		134		7,708		2,814		360		25		71		—		—		—		—		—		—		71
2023		122		5,946		2,170		278		25		54		—		—		—		—		—		—		54
2024		102		4,429		1,616		207		25		41		—		—		—		—		—		—		41
2025		86		3,161		1,154		147		25		29		—		—		—		—		—		—		29
2026		71		2,696		984		125		25		25		—		—		—		—		—		—		25
2027		33		908		332		43		25		8		—		—		—		—		—		—		8
2028		4		131		48		6		24		1		—		—		—		—		—		—		1
2029		—		—		—		—		—		—		—		—		—		—		—		—		—
2030		—		—		—		—		—		—		—		—		—		—		—		—		—
2031		—		—		—		—		—		—		—		—		—		—		—		—		—
2032		—		—		—		—		—		—		—		—		—		—		—		—		—
2033		—		—		—		—		—		—		—		—		—		—		—		—		—
2034		—		—		—		—		—		—		—		—		—		—		—		—		—
2035		—		—		—		—		—		—		—		—		—		—		—		—		—
Rem.		—		—		—		—		—		—		—		—		—		—		—		—		—
Total						12,554		1,605				312		—				—		—				—		312

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Property Gross Share of Royalties, Expenses, Taxes and Net Cash Flow

Year	Total MET US$MM		Total MET %		Export Rent Tax US$MM		Export Rent Tax %		Total Operating Costs US$MM		Aband. Costs US$MM		Capital Costs US$MM		Hist. Costs & Com. Bonus US$MM		Net Cash Flow B. Tax US$MM			Property Tax US$MM		Corporate Tax US$MM		Excess Profits Tax US$MM		Net Cash Flow A. Tax US$MM
2021		2		2		1		2		19		1		14		—		46			0		9		12		25
2022		2		3		3		4		19		1		6		—		40			0		6		6		27
2023		2		3		2		4		17		1		4		—		28			0		4		3		20
2024		1		3		2		4		16		1		4		—		17			0		2		1		14
2025		1		3		1		4		13		1		4		—		9			0		1		0		8
2026		1		3		1		4		16		7		—		—		(1	)		0		0		—		(1	)
2027		0		3		0		4		5		4		—		—		(2	)		0		0		—		(2	)
2028		0		0		—		—		1		1		—		—		(0	)		0		—		—		(0	)
2029		—		—		—		—		—		—		—		—		—			—		—		—		—
2030		—		—		—		—		—		—		—		—		—			—		—		—		—
2031		—		—		—		—		—		—		—		—		—			—		—		—		—
2032		—		—		—		—		—		—		—		—		—			—		—		—		—
2033		—		—		—		—		—		—		—		—		—			—		—		—		—
2034		—		—		—		—		—		—		—		—		—			—		—		—		—
2035		—		—		—		—		—		—		—		—		—			—		—		—		—
Rem.		—		—		—		—		—		—		—		—		—			—		—		—		—
Total		9		3		10		3		107		18		32		—		136			1		22		22		91

Company Working Interest Share Summary

Year	Gross Annual Oil Prod. Mbbl		Net Annual Oil Prod. Mbbl		Net Annual Gas Prod. MMcf		Net Annual NGL Prod. Mbbl		Gross Sales Revenue US$MM		Total MET US$MM		Export Tax US$MM		Operating & Aband. Costs US$MM		Capital Costs US$MM		Hist. Costs & Com. Bonus US$MM		Net Cash Flow B. Tax US$MM			Total Taxes US$MM		Net Cash Flow A. Tax US$MM
2021		1,414		1,414		—		—		34		1		1		10		5		—		18			7		11
2022		1,158		1,158		—		—		29		1		1		9		2		—		15			4		11
2023		897		897		—		—		23		1		1		9		2		—		10			2		8
2024		669		669		—		—		17		1		1		8		2		—		6			1		5
2025		485		485		—		—		12		0		1		7		1		—		3			0		3
2026		474		474		—		—		12		0		1		13		—		—		(2	)		0		(2	)
2027		111		111		—		—		3		0		0		3		—		—		(1	)		0		(1	)
2028		16		16		—		—		0		0		—		0		—		—		(0	)		0		(0	)
2029		—		—		—		—		—		—		—		—		—		—		—			—		—
2030		—		—		—		—		—		—		—		—		—		—		—			—		—
2031		—		—		—		—		—		—		—		—		—		—		—			—		—
2032		—		—		—		—		—		—		—		—		—		—		—			—		—
2033		—		—		—		—		—		—		—		—		—		—		—			—		—
2034		—		—		—		—		—		—		—		—		—		—		—			—		—
2035		—		—		—		—		—		—		—		—		—		—		—			—		—
Rem.		—		—		—		—		—		—		—		—		—		—		—			—		—
Total		5,224		5,224		—		—		130		4		5		59		12		—		51			16		35

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Prices: SEC January 1, 2021 Eff. Date: December 31, 2020 Currency: USD CNODCI Interest in PKI Kolzhan LLP Forecast of Production and Revenues SEC Prices and Costs as of December 31, 2020 Total Proved Reserves Total Kazakhstan                 Table 3

Property Gross Share of Production and Gross Revenues

			Crude Oil										Natural Gas						Natural Gas Liquids						Total Sales Revenue US$MM
Year	Producing Well Count		Daily Rate Bopd		Annual Volume Mbbl		Annual Volume MT		Crude Oil Price US$/bbl		Sales Revenue US$MM		Annual Volume MMcf		Natural Gas Price US$/Mcf		Sales Revenue US$MM		Annual Volume Mbbl		NGL Price US$/bbl		Sales Revenue US$MM
2021		140		11,017		4,021		514		24		97		—		—		—		—		—		—		97
2022		155		11,448		4,179		535		25		105		—		—		—		—		—		—		105
2023		151		9,913		3,618		463		25		91		—		—		—		—		—		—		91
2024		132		7,042		2,570		329		25		65		—		—		—		—		—		—		65
2025		116		4,830		1,763		226		25		44		—		—		—		—		—		—		44
2026		101		3,882		1,417		180		25		36		—		—		—		—		—		—		36
2027		53		1,486		542		70		25		14		—		—		—		—		—		—		14
2028		47		852		311		40		25		8		—		—		—		—		—		—		8
2029		—		—		—		—		—		—		—		—		—		—		—		—		—
2030		—		—		—		—		—		—		—		—		—		—		—		—		—
2031		—		—		—		—		—		—		—		—		—		—		—		—		—
2032		—		—		—		—		—		—		—		—		—		—		—		—		—
2033		—		—		—		—		—		—		—		—		—		—		—		—		—
2034		—		—		—		—		—		—		—		—		—		—		—		—		—
2035		—		—		—		—		—		—		—		—		—		—		—		—		—
Rem.		—		—		—		—		—		—		—		—		—		—		—		—		—
Total						18,421		2,358				459		—				—		—				—		459

Property Gross Share of Royalties, Expenses, Taxes and Net Cash Flow

Year	Total MET US$MM		Total MET %		Export Rent Tax US$MM		Export Rent Tax %		Total Operating Costs US$MM		Aband. Costs US$MM		Capital Costs US$MM		Hist. Costs & Com. Bonus US$MM		Net Cash Flow B. Tax US$MM			Property Tax US$MM		Corporate Tax US$MM		Excess Profits Tax US$MM		Net Cash Flow A. Tax US$MM
2021		2		2		2		2		21		1		28		—		44			0		11		13		20
2022		4		4		4		4		21		1		16		—		58			0		11		12		36
2023		4		4		4		4		20		1		7		—		55			0		9		10		36
2024		2		3		3		4		18		1		5		—		36			0		5		4		26
2025		1		3		2		4		15		1		5		—		19			0		2		1		16
2026		1		3		2		4		18		8		—		—		7			0		1		—		6
2027		0		3		1		4		7		1		—		—		5			0		0		—		4
2028		0		3		0		4		6		4		—		—		(2	)		0		—		—		(2	)
2029		—		—		—		—		—		—		—		—		—			—		—		—		—
2030		—		—		—		—		—		—		—		—		—			—		—		—		—
2031		—		—		—		—		—		—		—		—		—			—		—		—		—
2032		—		—		—		—		—		—		—		—		—			—		—		—		—
2033		—		—		—		—		—		—		—		—		—			—		—		—		—
2034		—		—		—		—		—		—		—		—		—			—		—		—		—
2035		—		—		—		—		—		—		—		—		—			—		—		—		—
Rem.		—		—		—		—		—		—		—		—		—			—		—		—		—
Total		16		3		16		4		125		19		60		—		223			2		39		40		141

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Company Working Interest Share Summary

Year	Gross Annual Oil Prod. Mbbl		Net Annual Oil Prod. Mbbl		Net Annual Gas Prod. MMcf		Net Annual NGL Prod. Mbbl		Gross Sales Revenue US$MM		Total MET US$MM		Export Tax US$MM		Operating & Aband. Costs US$MM		Capital Costs US$MM		Hist. Costs & Com. Bonus US$MM		Net Cash Flow B. Tax US$MM			Total Taxes US$MM		Net Cash Flow A. Tax US$MM
2021		1,672		1,672		—		—		40		1		1		10		10		—		19			9		10
2022		1,686		1,686		—		—		42		2		2		10		6		—		22			8		14
2023		1,453		1,453		—		—		37		2		2		10		3		—		21			7		14
2024		1,041		1,041		—		—		26		1		1		9		2		—		14			4		10
2025		720		720		—		—		18		1		1		8		2		—		7			1		6
2026		656		656		—		—		17		1		1		14		—		—		1			0		0
2027		182		182		—		—		5		0		0		3		—		—		2			0		1
2028		104		104		—		—		3		0		0		3		—		—		(1	)		0		(1	)
2029		—		—		—		—		—		—		—		—		—		—		—			—		—
2030		—		—		—		—		—		—		—		—		—		—		—			—		—
2031		—		—		—		—		—		—		—		—		—		—		—			—		—
2032		—		—		—		—		—		—		—		—		—		—		—			—		—
2033		—		—		—		—		—		—		—		—		—		—		—			—		—
2034		—		—		—		—		—		—		—		—		—		—		—			—		—
2035		—		—		—		—		—		—		—		—		—		—		—			—		—
Rem.		—		—		—		—		—		—		—		—		—		—		—			—		—
Total		7,514		7,514		—		—		188		6		7		67		23		—		85			29		55

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Prices: SEC January 1, 2021 Eff. Date: December 31, 2020 Currency: USD	CNODCI Interest in PKI PetroKazakhstan Kumkol Resources Summary of Reserves and Net Present Values SEC Prices and Costs as of December 31, 2020	Table 1
	Total Kazakhstan

Summary of Reserves (1)(2)
	Crude Oil Reserves - Barrels						Natural Gas Reserves						Natural Gas Liquids Reserves
Reserve Category	Property Gross Mbbl		Company Gross Mbbl		Company Net Mbbl		Property Gross MMcf		Company Gross MMcf		Company Net MMcf		Property Gross Mbbl		Company Gross Mbbl		Company Net Mbbl
Proved Developed Reserves		1,165		586		586		—		—		—		—		—		—
Proved Undeveloped Reserves		397		200		200		—		—		—		—		—		—
Total Proved Reserves		1,562		785		785		—		—		—		—		—		—
					Crude Oil Reserves - Tonnes								BOE Reserves (3)
Reserve Category					Property Gross MT		Company Gross MT		Company Net MT				Property Gross Mbbl		Company Gross Mbbl		Company Net Mbbl
Proved Developed Reserves						152		77		77				1,165		586		586
Proved Undeveloped Reserves						52		26		26				397		200		200
Total Proved Reserves						204		103		103				1,562		785		785
Summary of Company Share of Net Present Values  Before Income Taxes
									$MM US Dollars
Reserve Category									0.0%		5.0%		10.0%		15.0%		20.0%
Proved Developed Reserves										4		3		3		3		2
Proved Undeveloped Reserves										3		2		2		2		1
Total Proved Reserves										7		6		5		4		4
Summary of Company Share of Net Present Values After Income Taxes
									$MM US Dollars
Reserve Category									0.0%		5.0%		10.0%		15.0%		20.0%
Proved Developed Reserves										4		3		3		2		2
Proved Undeveloped Reserves										3		2		2		2		1
Total Proved Reserves										7		6		5		4		3

(1) The above reserves estimates are presented after applying license expiry and economic limit cutoffs.

(2) Company Gross reserves are based on Company working interest share of the reserves for each property.

Company Net reserves are the working interest reserves in each property after deducting royalties payable to others. In the case of all properties, there are no royalties payable to others.

(3) Based on a gas to BOE conversion of 6:1

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Prices: SEC January 1, 2021 Eff. Date: December 31, 2020 Currency: USD	CNODCI Interest in PKI PetroKazakhstan Ventures Inc. Forecast of Production and Revenues SEC Prices and Costs as of December 31, 2020 Proved Developed Reserves	Table 2
	Total Kazakhstan

Property Gross Share of Production and Gross Revenues

			Crude Oil										Natural Gas						Natural Gas Liquids						Total Sales Revenue US$M
Year	Producing Well Count		Daily Rate Bopd		Annual Volume Mbbl		Annual Volume MT		Crude Oil Price US$/bbl		Sales Revenue US$M		Annual Volume MMcf		Natural Gas Price US$/Mcf		Sales Revenue US$M		Annual Revenue Mbbl		NGL Price US$/bbl		Sales Revenue US$M
2021		—		—		—		—		—		—		—		—		—		—		—		—		—
2022		18		1,241		453		59		25.41		11,514		—		—		—		—		—		—		11,514
2023		16		788		288		38		25.41		7,310		—		—		—		—		—		—		7,310
2024		16		539		197		26		25.32		4,986		—		—		—		—		—		—		4,986
2025		16		379		139		18		25.32		3,507		—		—		—		—		—		—		3,507
2026		12		244		89		12		25.32		2,255		—		—		—		—		—		—		2,255
2027		—		—		—		—		—		—		—		—		—		—		—		—		—
2028		—		—		—		—		—		—		—		—		—		—		—		—		—
2029		—		—		—		—		—		—		—		—		—		—		—		—		—
2030		—		—		—		—		—		—		—		—		—		—		—		—		—
2031		—		—		—		—		—		—		—		—		—		—		—		—		—
2032		—		—		—		—		—		—		—		—		—		—		—		—		—
2033		—		—		—		—		—		—		—		—		—		—		—		—		—
2034		—		—		—		—		—		—		—		—		—		—		—		—		—
2035		—		—		—		—		—		—		—		—		—		—		—		—		—
Rem.		—		—		—		—		—		—		—		—		—		—		—		—		—
Total						1,165		152				29,572		—				—		—				—		29,572

Property Gross Share of Royalties, Expenses, Taxes and Net Cash Flow

Year	Total MET US$M		Total MET %		Export Rent Tax US$M		Export Rent Tax %		Total Operating Costs US$M		Aband. Costs US$M		Capital Costs US$M		Hist. Costs & Com. Bonus US$M		Net Cash Flow B. Tax US$M			Property Tax US$M		Corporate Tax US$M		Excess Profits Tax US$M		Net Cash Flow A. Tax US$M
2021		—		—		—		—		—		—		4,835		—		(4,835	)		—		—		—		(4,835	)
2022		434		4		556		5		2,641		269		758		—		6,855			83		—		—		6,772
2023		276		4		353		5		2,127		269		902		—		3,382			79		—		—		3,303
2024		181		4		230		5		1,834		269		576		—		1,895			75		—		—		1,819
2025		127		4		162		5		1,610		269		480		—		858			69		—		—		789
2026		82		4		104		5		1,223		808		—		—		39			62		—		—		(23	)
2027		—		—		—		—		—		—		—		—		—			—		—		—		—
2028		—		—		—		—		—		—		—		—		—			—		—		—		—
2029		—		—		—		—		—		—		—		—		—			—		—		—		—
2030		—		—		—		—		—		—		—		—		—			—		—		—		—
2031		—		—		—		—		—		—		—		—		—			—		—		—		—
2032		—		—		—		—		—		—		—		—		—			—		—		—		—
2033		—		—		—		—		—		—		—		—		—			—		—		—		—
2034		—		—		—		—		—		—		—		—		—			—		—		—		—
2035		—		—		—		—		—		—		—		—		—			—		—		—		—
Rem.		—		—		—		—		—		—		—		—		—			—		—		—		—
Total		1,101		4		1,406		5		9,436		1,885		7,552		—		8,193			368		—		—		7,825

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Company Working Interest Share Summary

Year	Gross Annual Oil Prod. Mbbl		Net Annual Oil Prod. Mbbl		Net Annual Gas Prod. MMcf		Net Annual NGL Prod. Mbbl		Gross Sales Revenue US$M		Total MET US$M		Export Tax US$M		Operating & Aband. Costs US$M		Capital Costs US$M		Hist. Costs & Com. Bonus US$M		Net Cash Flow B. Tax US$M			Total Taxes US$M		Net Cash Flow A. Tax US$M
2021		—		—		—		—		—		—		—		—		2,430		—		(2,430	)		—		(2,430	)
2022		228		228		—		—		5,786		218		280		1,462		381		—		3,445			42		3,403
2023		145		145		—		—		3,673		139		178		1,204		453		—		1,699			40		1,660
2024		99		99		—		—		2,505		91		116		1,057		289		—		952			38		914
2025		70		70		—		—		1,762		64		81		945		241		—		431			35		396
2026		45		45		—		—		1,133		41		52		1,020		—		—		20			31		(11	)
2027		—		—		—		—		—		—		—		—		—		—		—			—		—
2028		—		—		—		—		—		—		—		—		—		—		—			—		—
2029		—		—		—		—		—		—		—		—		—		—		—			—		—
2030		—		—		—		—		—		—		—		—		—		—		—			—		—
2031		—		—		—		—		—		—		—		—		—		—		—			—		—
2032		—		—		—		—		—		—		—		—		—		—		—			—		—
2033		—		—		—		—		—		—		—		—		—		—		—			—		—
2034		—		—		—		—		—		—		—		—		—		—		—			—		—
2035		—		—		—		—		—		—		—		—		—		—		—			—		—
Rem.		—		—		—		—		—		—		—		—		—		—		—			—		—
Total		586		586		—		—		14,860		553		707		5,688		3,795		—		4,117			185		3,932

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Prices: SEC January 1, 2021 Eff. Date: December 31, 2020 Currency: USD	CNODCI Interest in PKI PetroKazakhstan Ventures Inc. Forecast of Production and Revenues SEC Prices and Costs as of December 31, 2020 Total Proved Reserves	Table 3
	Total Kazakhstan

Property Gross Share of Production and Gross Revenues

			Crude Oil										Natural Gas						Natural Gas Liquids						Total Sales Revenue US$M
Year	Producing Well Count		Daily Rate Bopd		Annual Volume Mbbl		Annual Volume MT		Crude Oil Price US$/bbl		Sales Revenue US$M		Annual Volume MMcf		Natural Gas Price US$/Mcf		Sales Revenue US$M		Annual Volume Mbbl		NGL Price US$/ bbl		Sales Revenue US$M
2021		—		—		—		—		—		—		—		—		—		—		—		—		—
2022		19		1,391		508		66		25.41		12,905		—		—		—		—		—		—		12,905
2023		18		1,050		383		50		25.41		9,739		—		—		—		—		—		—		9,739
2024		18		735		268		35		25.32		6,792		—		—		—		—		—		—		6,792
2025		18		525		192		25		25.32		4,855		—		—		—		—		—		—		4,855
2026		14		353		129		17		25.32		3,261		—		—		—		—		—		—		3,261
2027		9		226		83		11		25.32		2,092		—		—		—		—		—		—		2,092
2028		—		—		—		—		—		—		—		—		—		—		—		—		—
2029		—		—		—		—		—		—		—		—		—		—		—		—		—
2030		—		—		—		—		—		—		—		—		—		—		—		—		—
2031		—		—		—		—		—		—		—		—		—		—		—		—		—
2032		—		—		—		—		—		—		—		—		—		—		—		—		—
2033		—		—		—		—		—		—		—		—		—		—		—		—		—
2034		—		—		—		—		—		—		—		—		—		—		—		—		—
2035		—		—		—		—		—		—		—		—		—		—		—		—		—
Rem.		—		—		—		—		—		—		—		—		—		—		—		—		—
Total						1,562		204				39,645		—				—		—				—		39,645

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08

Property Gross Share of Royalties, Expenses, Taxes and Net Cash Flow

Year	Total MET US$M		Total MET %		Export Rent Tax US$M		Export Rent Tax %		Total Operating Costs US$M		Aband. Costs US$M		Capital Costs US$M		Hist. Costs & Com. Bonus US$M		Net Cash Flow B. Tax US$M			Property Tax US$M		Corporate Tax US$M		Excess Profits Tax US$M		Net Cash Flow A. Tax US$M
2021		—		—		—		—		—		—		4,835		—		(4,835	)		—		—		—		(4,835	)
2022		487		4		624		5		2,833		278		1,998		—		6,685			83		—		—		6,602
2023		367		4		471		5		2,477		278		902		—		5,244			79		25		—		5,140
2024		247		4		314		5		2,176		278		576		—		3,202			75		—		—		3,127
2025		176		4		224		5		1,906		278		480		—		1,791			69		—		—		1,722
2026		118		4		151		5		1,484		278		—		—		1,230			62		—		—		1,169
2027		76		4		97		5		1,073		556		—		—		291			52		—		—		239
2028		—		—		—		—		—		—		—		—		—			—		—		—		—
2029		—		—		—		—		—		—		—		—		—			—		—		—		—
2030		—		—		—		—		—		—		—		—		—			—		—		—		—
2031		—		—		—		—		—		—		—		—		—			—		—		—		—
2032		—		—		—		—		—		—		—		—		—			—		—		—		—
2033		—		—		—		—		—		—		—		—		—			—		—		—		—
2034		—		—		—		—		—		—		—		—		—			—		—		—		—
2035		—		—		—		—		—		—		—		—		—			—		—		—		—
Rem.		—		—		—		—		—		—		—		—		—			—		—		—		—
Total		1,472		4		1,880		5		11,948		1,945		8,792		—		13,609			421		25		—		13,163

Company Working Interest Share Summary

Year	Gross Annual Oil Prod. Mbbl		Net Annual Oil Prod. Mbbl		Net Annual Gas Prod. MMcf		Net Annual NGL Prod. Mbbl		Gross Sales Revenue US$M		Total MET US$M		Export Tax US$M		Operating & Aband. Costs US$M		Capital Costs US$M		Hist. Costs & Com. Bonus US$M		Net Cash Flow B. Tax US$M			Total Taxes US$M		Net Cash Flow A. Tax US$M
2021		—		—		—		—		—		—		—		—		2,430		—		(2,430	)		—		(2,430	)
2022		255		255		—		—		6,485		245		313		1,563		1,004		—		3,359			42		3,318
2023		193		193		—		—		4,894		185		237		1,384		453		—		2,635			52		2,583
2024		135		135		—		—		3,413		124		158		1,233		289		—		1,609			38		1,571
2025		96		96		—		—		2,440		89		113		1,097		241		—		900			35		865
2026		65		65		—		—		1,639		60		76		885		—		—		618			31		587
2027		42		42		—		—		1,051		38		49		818		—		—		146			26		120
2028		—		—		—		—		—		—		—		—		—		—		—			—		—
2029		—		—		—		—		—		—		—		—		—		—		—			—		—
2030		—		—		—		—		—		—		—		—		—		—		—			—		—
2031		—		—		—		—		—		—		—		—		—		—		—			—		—
2032		—		—		—		—		—		—		—		—		—		—		—			—		—
2033		—		—		—		—		—		—		—		—		—		—		—			—		—
2034		—		—		—		—		—		—		—		—		—		—		—			—		—
2035		—		—		—		—		—		—		—		—		—		—		—			—		—
Rem.		—		—		—		—		—		—		—		—		—		—		—			—		—
Total		785		785		—		—		19,921		740		944		6,981		4,418		—		6,839			224		6,615

Petrokazakhstan 2020YE - All Fields - Final - CNODCI.xlsm		2021-02-08