Alliance Oil Company is a vertically integrated oil company with both upstream and downstream operations.

Exploration and production of crude oil is conducted in four different regions in two countries – Russia and Kazakhstan. Alliance Oil operates in three of Russia's largest oil basins: Western Siberia, Timano-Pechora and Volga-Urals, The oil reserves amount to 526 million barrels (2P PMRS reserves). In 2009, Alliance's production amounted to 16.0 million barrels.