365 km on the northeast of the city of Aktau are located the Karakuduk field. For the first time oil on it was detected in 1972, industrial development began only in 1998. 5 years later, in 2003, the first million tons of oil was extracted. In January, 2011 the saved-up production was 8 million tons. Karakudukmunay LLP which is operating company "Lukoil Oversiz" is engaged in mining. With arrival of Lukoil company at the end of 2005 in "Karakudukmunay" the new stage of development began. The implementable large-scale program of drilling, hardware upgrade and permanent optimization of technologies allowed to provide the level of annual production exceeding 1.4 million tons.