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Company Profile :: Company Profile :: НК "КазМунайГаз"
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20 January 2005 

Company Profile

Today, KazMunayGas JSC is one of young and swiftly developing national companies in Kazakhstan. It has come to the fore not only because it embraces one of the most important sectors of the country’s economy, but also owing to a competently structured policy. The Company is a vivid example of a combination of expertise and traditions in the petroleum industry, on the one hand, аnd a new thinking and technologies, on the other.

Joint-Stock Company KazMunayGas National Company was founded pursuant to Decree of the President of the Republic of Kazakhstan No. 811 as of 20 February 2002 through the merger of CJSC National Oil Company Kazakhoil and Closed Joint-Stock Company NC Oil and Gas Transportation. On March 16, 2004 the Company was renamed into Joint Stock Company KazMunayGas National Company.

The Founder of the Company is the Government of the Republic of Kazakhstan.

The Company was created with the aim of comprehensive development of the Republic’s petroleum industry to ensure rational and efficient operation of hydrocarbons, which in turn, will contribute to social and economic development of Kazakhstan and its successful integration into the world economy.

The Company:

  • participates in development and implementation of a uniform State policy and strategy in the petroleum sector aimed at effective operation and reproduction of oil-and-gas resources and development of the corresponding infrastructure.
  • represents the State’s interests in contracts with investors carrying out oil-and-gas operations, and also participates in organizing tenders for their conduct on the territory of the Republic of Kazakhstan.
  • carries out a complete cycle of works and services in exploration, development, production, processing, transportation and marketing of hydrocarbon raw materials and products of their refining, as well as designing, construction and operation of oil pipelines and production infrastructure in Kazakhstan and abroad. The Company also provides a wide range of services in the sphere of air transportation and telecommunications.

The most important subsidiaries for the Company’s work are the following:

  • KMG Exploration & Production,
  • KazTransOil (oil transportation),
  • KazTransGas (gas transportation),
  • Atyrau refinery (oil refining),
  • Kazmortransflot (shipping by tankers),
  • Atyrau International Airport,
  • Eurasia-Air Helicopter Company,
  • KazTransCom Telecommunications Company.

Apart from the above, the Company comprises of a large number of companies and enterprises of different profiles.

The Government has appointed the Company as an authorized body in representing the State’s commercial interests in many international and domestic oil-and-gas projects. The Company has been assigned some functions of a working body of the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan in the construction sphere in the issues of planning, designing and construction of oil-and-gas transportation infrastructure objects connected with transportation by main lines, subsequent storage and transshipping of oil and gas.

The Company exercises centralized management of the State shareholding in gas-and-oil enterprises and guides their production, commercial, financial and investment activities. Besides, the activity of the Company’s head office is focused on the following directions:

  • exploration and oil production on new sites and fields;
  • marketing of oil and oil products on the domestic and international markets;
  • investment activity in Kazakhstan and, in future, abroad;
  • attraction of credit resources to fund own investment programs and capital investments in subsidiaries and affiliates.

The number of personnel of the central apparatus and the subsidiaries of KazMunayGas exceeds 30000 employees.

The Company’s auditor is Ernst & Young.

The Company’s activities are reflected in consolidated financial accounts.


   
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