Description
National Company “KazMunayGas” (KMG) is the Kazakhstan operator for exploration, production, refining and transportation of hydrocarbons, representing the state in Kazakhstan's petroleum sector.
The Group of JSC “National Company “KazMunayGas”, founded in 2002, includes over 180 entities. The founding party of KMG is the Government of the Republic of Kazakhstan, represented by the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan. KMG's shareholders are Samruk-Kazyna Sovereign Wealth Fund (90%) and the National Bank of the Republic of Kazakhstan (10% + 1 share).
The National Company accounts for 25% of crude oil and gas condensate production, as well as 15% of natural and associated gas production domestically. Its trunklines are used to transport 56% of Kazakhstan's oil and 79% of gas.
In 2018 JSC NC "KazMunayGas” produced 23.6 mn tons of oil and 8.3 mn cub. metres of gas condensate. KMG's geologic exploration project portfolio consists of 23 projects (joint and independently-led), of which 14 are being implemented onshore, and 9 - offshore. As a national company, KazMunayGas has the pre-emption subsurface use right for strategic subsurface sites, and receives a 50% participatory interest in case of new contracts for development of offshore fields are executed.
JSC NC "KazMunayGas" is among the biggest employers, with the number of employees of over 80,000.
