KazMunayGaz to uphold country's interests in three giant oil and gas projects
Kazakhstan, Astana, Jul.23 / Trend K.Konyrova /
The Kazakh national company KazMunayGaz (KMG) continues upholding actively the country's interests in three giant oil and gas projects (Kashagan, Tengiz and Karachaganak), KMG managing board chairman Kairgeldi Kabildin said in the company's meeting on the result of the first half 2009.
This is one of important strategic tasks of the company. Moreover, work on modernization of the Kazakh oil refinery plants will be in progress, Kabildin said during his speech.
According to Kabildin, KMG has defined five business directions (exploration and production of oil and gas, oil transportation, processing and marketing, oil transportation and services for oil and gas fields) in accordance with long term strategy of development adopted in Jan, 2009 and adopted a new organization structure.
KMG reached an agreement with BP on Kazakhstan Pipeline Ventures (KPV) joint venture as part of implementing investment strategy and increased its shares in the Caspian Pipeline Consortium joint stock company. KMG also possesses 100 percent of shares of the Rompetrol Group NV (ТRG), Kabildin added.
KMG is the Kazakh national operator on exploration, refinery and transportation of hydrocarbons, representing the country's interests in the Kazakh oil and gas section. The national prosperity fund Samruk-Kazina holds 100 percent of KMG joint stock company's shares.
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