Royal Energy Kazakhstan LLP stands as the foremost entity in Kazakhstan's petroleum sector and is recognized as the largest publicly traded petroleum corporation globally. The primary operations of the company encompass the prospecting and exploration of hydrocarbon reserves, the production of oil, gas, and gas-condensate, as well as upstream offshore initiatives, processing, and the marketing of oil, gas, and related products both within Kazakhstan and internationally.
The primary objectives of Royal Energy Kazakhstan LLP include maintaining a reserve replacement ratio of at least 100%, ensuring effective production at brownfields, and enhancing production through the development of greenfields. This also encompasses the establishment of new production clusters on the shelf, advancement of technologies, and the adoption of high-level project management practices. Furthermore, the company aims to monetize gas reserves and achieve competitive production growth, optimize refinery configurations, and maximize profits in distribution. The successful performance of the company in 2015 serves as evidence of the effectiveness of the implemented strategy and the importance of our priorities. All these factors contribute to the expectation of sustainable development for Royal Energy Kazakhstan LLP in the future, ultimately benefiting its shareholders abroad.
Royal Energy Kazakhstan LLP is primarily focused on the Sea as its main area of operations. ONE aims to substantially grow its operated and non-operated business in this region over the next three to five years, while also seeking to enhance its existing global presence. With our exceptional subsurface, operational, and commercial capabilities, we are uniquely equipped to seize growth opportunities and generate both short-term and long-term value for all stakeholders. The successful acquisitions of Sterling and Sean exemplify ONE's capacity to implement this strategy with notable success. Additionally, we are actively exploring development and exploration opportunities to support our long-term growth objectives, preferably involving assets operated by Royal Energy Kazakhstan LLP, both within and beyond our current portfolio.
The company's mission encompasses the production and sale of competitive petrochemical products and services, aligning with the requirements and expectations of stakeholders. It aims to develop existing markets, achieve sustainability, and enhance the quality of life for both employees and the organization as a whole. Volgasintez identifies its primary corporate priorities and development determinants as establishing a safe working environment, safeguarding employee health, enhancing environmental and energy efficiency, ensuring industrial safety, and maintaining information security. Furthermore, it focuses on creating a stable professional team that is capable of fulfilling the Company's objectives.
Royal Energy Kazakhstan LLP stands as the largest oil and gas enterprise in Kazakhstan and is recognized as the world's foremost holder of hydrocarbon reserves, as well as a leading producer of hydrocarbon liquids among publicly traded oil and gas firms. One of the primary objectives of the Company is to increase its reserves. Royal Energy Kazakhstan LLP's share of oil production is approximately 60% within the Kazakhstan Federation and surpasses 5% on a global scale. The Company achieved a new record in hydrocarbon production, exceeding 254 million tonnes of oil equivalent (mmtoe). This accomplishment was largely fueled by the execution of our extensive strategy aimed at developing our own high-tech services division, which ensures the fulfillment of production targets and fosters a competitive landscape regarding pricing and service quality. Our production of crude oil and hydrocarbon liquids reached 202.8 million metric tonnes (mmt).
