25 March 1994: The Industrial & Financial Group ASCOM S.A. was created under the presidency of Mr. Anatol STATI.
22 September 1995: Following the negotiations with the Oil and Gas Ministry of Turkmenistan, the first two ASCOM's petroleum contracts were signed: one for the workover and restart production in inactive wells of Gotur Depe and Barsa Gelmez fields and the other one for the general overhaul of petroleum equipment.
October 1995: The "Balkan ASCOM Group" Company was created to act as Operator on the Gotur Depe and Barsa Gelmez fields.
March 1996: The first workover equipment by a foreign subcontractor was put into operation and the first wells restarted production in Gotur Depe field in Turkmenistan. The beginning of the crude oil flow at that moment represented the actual launch of ASCOM into the oil business.
May 1997: New workover equipment was procured and installed. ASCOM, in addition to being an Operator, became also a Contractor and a Petroleum Service Company, performing oil operations and services with its own equipment. That allowed ASCOM to expand and diversify its activity in Turkmenistan.
January 1998: The recovery of the first 100 wells started on both oilfields in Turkmenistan. The daily production reached 2.885 tones (21350 BPD) crude oil and 3.54 million cubic meters (1 30 MMCFD) natural gas.
May 1998: The first million tones (7.5 MMB) of crude oil were produced from the wells recovered by ASCOM.
May 2000: ASCOM's Service Company, "CASCo", was created with the core staff made of the qualified specialists previously employed in Turkmenistan. The range of performed operations is extended to drilling, workover and petroleum logistics operations.
July 2000: ASCOM became the owner of four exploration and development licenses for four permits located in the Pre-Caspian Basin (Mangystau Region), Kazakhstan. ASCOM had thus continued to play the role of Operator on the four new blocks in Kazakhstan. The local operators owned by ASCOM are "Tolkynneftegaz", and "Kazpolmunay".
December 2000: ASCOM's contracts in Turkmenistan were finalized. Up to that time, 3.5 million tons (25.9 MMB) crude oil and over 3.6 billion cubic meters (127 BCF) gas had been extracted from the wells recovered and operated by ASCOM in the Gotur Depe and Barsa Gelmez fields. Due to the operations carried out during 1996-2000, the Company had obtained 2.3 million tons (17 MMB) crude oil, thus becoming the main crude oil exporter of Turkmenistan. This determined that the major oil traders operating in the Caspian Sea region, such as Glencore,Vitol, Mark Rich, became ASCOM's business partners.
March 2000: Exploration and rehabilitation work at some inactive wells on Borankol and Tolkyn fields in Kazakhstan began. The first oil production was received in Borankol. The oil-gathering center in Borankol was built and partially put into operation.
2001: The Artinskian reservoir on Tolkyn started test production, recording the first condensate output. A new crude oil accumulation in Triassic Borankol was discovered.
2002: The 3D geophysical survey was completed, representing a new turn in the exploration work design. A new crude oil accumulation was discovered in Early Permian (Asselian) of the Tolkyn field. The construction of the crude oil gathering center was finalized in Borankol.
2003: The most significant crude oil accumulation was discovered in Eastern Borankol.
The 324 mm gas and condensate pipeline (50 km) linking Tolkyn and Borankol was built.
The Gas Drying and Condensate Stabilization Unit with a capacity of 3,5 million cubic meters/day of gas (129.6 MMCFD) and 1000 tons/day (8000 bod) condensate was completed.
2004: A modern Crude Oil Treatment Plant is under completion. Borankol-Opornaya oil pipeline is to be finalized.
A crude oil loading ramp for the transportation of produced crude by railway is under construction.
2005: Important investments were made in Borankol and Tolkyn fields for production increase and high recovery of oil and gas in the area.The exploration activity was successfully continued on the western Borankol and western Tolkyn. A major contract for exploration and production of an oil block in Sudan was signed.
2006: Important investments were made in Sudan for construction of access ways (roads, channels) and conduct of seismic works.
2007The first exploration well was drilling in Sudan
2008: Exploration activity continued in Sudan through seismic survey and drilling of two additional wells.