Kazakhstan’s KazMunayGas acquaints one of major service companies

Business Materials 1 April 2020 12:49 (UTC +04:00)
Kazakhstan’s KazMunayGas acquaints one of major service companies

BAKU, Azerbaijan, Apr.1

By Nargiz Sadikhova - Trend:

Kazakhstan’s KazMunayGas (KMG) oil and gas national company became an owner of 100 percent of shares of KazMunayGas – Service NS company, Trend reports with reference to the KMG’s report published at Kazakhstan Stock Exchange.

The report said that KMG once again became an owner of KazMunayGas – Service NS starting from Mar. 26, 2020 after it was sold in Dec. 2020.

In Mar. 2019 the KazMunayGas – Service NS company has been sold once again for 4.1 billion tenge ($9.1 million).

On Feb. 24, 2020 KMG has become an owner of 50-percent share of Kazgermunai Joint Venture (JV), which is one of the largest companies in oil production industry of Kazakhstan.

Kazgermunai carries out its activity in exploration, development, production and sale of hydrocarbon materials at Akshabulak, Nuraly and Aksai deposits of the South Turgai hollow of Kyzylorda area.

KazMunayGas – Service NS is one of Kazakhstan’s service companies, which oversees implementation of a wide range of service and representative services.

KazMunayGas National Company (KMG) is Kazakhstan’s operator for exploration, production, refining and transportation of hydrocarbons, representing the state interests in the oil and gas industry of Kazakhstan.


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