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KazMunayGas
KazMunayGas (KMG) (Kazakh: QazMūnaiGaz, ҚазМұнайГаз) is the state-owned oil and gas company of Kazakhstan. It was founded in 2002 by merging CJSC Kazakhoil and CJSC Oil&Gas Transportation.
It was formed by the decree of the President of Kazakhstan dated February 20, 2002, through the merger of Kazakhoil CJSC and Oil&Gas Transportation CJSC. The Kazakhoil company was founded in 1997, and Nurlan Balgimbayev became its first president. From May 1997 to March 1999, Timur Kulibayev held the position of Vice President for Economics and Finance at Kazakhoil. In the summer of 2000, Kairat Satybaldy, a nephew of Nursultan Nazarbayev, who in 2002 took the position of Managing Director for Social Affairs, Strategic Planning and Telecommunications at KazMunayGas, became the Vice President of Kazakhoil.
In January 2023, a strategic partnership agreement was signed between JSC NC KazMunayGas and Abu Dhabi Ports Company. The parties expressed interest in cooperation in the development of the marine fleet and coastal infrastructure in the Caspian and Black Seas.
Main subsidiaries of KazMunayGas are:
KazMunaiGas Exploration Production (AO) has its equity listed in form of common shares and global depositary receipts on the Kazakhstan Stock Exchange and the London Stock Exchange, respectively.
The company has stakes in LLP Kazgermunai JV, JSC Karazhanbasmunai and PetroKazakhstan Inc. Its two noted producing fields are Uzenmunaigas and Embamunaigas.
KazMunayGas operates 2 oil refineries in Kazakhstan:
KazMunayGas has a US$1.7 billion plan for the modernization of the Atyrau refinery. In August 2012, it obtained a US$297.5 million loan from the Japan Bank for International Cooperation and the Bank of Tokyo Mitsubishi a deep oil refining complex at the Atyrau Oil Refinery. This loan followed a contract awarded to Marubeni to reinforce the production of oil products to suit European environmental standards.
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KazMunayGas
KazMunayGas (KMG) (Kazakh: QazMūnaiGaz, ҚазМұнайГаз) is the state-owned oil and gas company of Kazakhstan. It was founded in 2002 by merging CJSC Kazakhoil and CJSC Oil&Gas Transportation.
It was formed by the decree of the President of Kazakhstan dated February 20, 2002, through the merger of Kazakhoil CJSC and Oil&Gas Transportation CJSC. The Kazakhoil company was founded in 1997, and Nurlan Balgimbayev became its first president. From May 1997 to March 1999, Timur Kulibayev held the position of Vice President for Economics and Finance at Kazakhoil. In the summer of 2000, Kairat Satybaldy, a nephew of Nursultan Nazarbayev, who in 2002 took the position of Managing Director for Social Affairs, Strategic Planning and Telecommunications at KazMunayGas, became the Vice President of Kazakhoil.
In January 2023, a strategic partnership agreement was signed between JSC NC KazMunayGas and Abu Dhabi Ports Company. The parties expressed interest in cooperation in the development of the marine fleet and coastal infrastructure in the Caspian and Black Seas.
Main subsidiaries of KazMunayGas are:
KazMunaiGas Exploration Production (AO) has its equity listed in form of common shares and global depositary receipts on the Kazakhstan Stock Exchange and the London Stock Exchange, respectively.
The company has stakes in LLP Kazgermunai JV, JSC Karazhanbasmunai and PetroKazakhstan Inc. Its two noted producing fields are Uzenmunaigas and Embamunaigas.
KazMunayGas operates 2 oil refineries in Kazakhstan:
KazMunayGas has a US$1.7 billion plan for the modernization of the Atyrau refinery. In August 2012, it obtained a US$297.5 million loan from the Japan Bank for International Cooperation and the Bank of Tokyo Mitsubishi a deep oil refining complex at the Atyrau Oil Refinery. This loan followed a contract awarded to Marubeni to reinforce the production of oil products to suit European environmental standards.
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