PetroKazakhstan is a Canadian oil company, based in Calgary, that has all of its business focused on Kazakhstan where it had some 550 million barrels of oil and 25 billion cubic feet of natural gas reserves in the Turgai basin region. These are the second largest Kazakhstani proven reserves after ChevronTexaco's TengizChevroil. Estimated production is 165,000 barrels of oil per day. In 2005, PetroKazakhstan was acquired by China National Petroleum Corporation and then in 2006 transferred to PetroChina. Formerly known as Hurricane Hydrocarbons Ltd. the company was founded in 1981 and... initially operated in Western Canada. It changed to a more international focus and grew after making several major oil and gas finds in Southern Kazakhstan, in 1991 becoming a partner in a JV to develop the Kyzylkiya, Aryskum, Maibulak and South Kumkol fields. In 1996 it purchased Yuzhneftegaz from the Kazakh government, making it one of the largest players in the country. However the company ran into severe problems in the late 1990s. All the company's oil went through refineries owned by Central Asian Industrial Holdings N.V.
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