Kazakhstan’s KazMunayGas sells its shares in service subsidiary

Business Materials 11 June 2020 17:01 (UTC +04:00)
Kazakhstan’s KazMunayGas sells its shares in service subsidiary

BAKU, Azerbaijan, Jun. 11

By Nargiz Sadikhova - Trend:

Kazakhstan’s KazMunayGas (KMG) oil and gas national company sold its shares in KazMunayGas – Service NS company, Trend reports with reference to the company’s statement.

The statement was submitted to, and published by, Kazakhstan Stock Exchange (KASE).

KMG became an owner of 100 percent of shares of KazMunayGas – Service NS company in Apr. 2020. However, as of Jun. 5, 2020, KMG sold 100 percent of its shares in the newly-acquainted company.

In Apr. 2020 KMG announced that it once again became an owner of KazMunayGas – Service NS starting from Mar. 26, 2020 after it was sold in Dec. 2019.

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.

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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