It's necessary to make decisions to empower structural units of "KazMunayGas" status of legal persons - Nazarbayev
Government, the National Welfare Fund "Samruk - Kazina" to make decisions to empower structural units of the National Company of "KazMunayGas" the status of legal persons. This was stated by the President of Kazakhstan Nursultan Nazarbayev on Thursday during his working trip to Mangystau region, Kazinform reported reffering to the press service of the President.
The head of State said that all measures will be taken to restore the city of Zhanaozen, to ensure the normal functioning of critical infrastructure, and employment of laid-off workers. However, the President stressed the need for strict compliance with all requirements of Kazakh legislation, the report said.
"Government, Fund "Samruk-Kazina", Company "KazMunayGas"did not fulfill my order on the timely resolution of a labor dispute. Unfortunately, they were not able to resolve this issue. The administration of the national company and its subsidiaries had a lot of random people. All this reduced the effectiveness of management. Therefore, I appoint the new head of the National Company of "KazMunayGas" Lyazzat Kiinov, and the head of the company "KazMunayGas EP" Alik Aydarbaev," - said the president.
The President instructed the Government to comprehensively examine the actions of authorized government agencies, the company of "KazMunayGas" in this situation and provide specific proposals to punish and reform the administrative system of the company "KazMunayGas", the report said.
As the President stated, the Government and the National Welfare Fund "Samruk - Kazyna" to make decisions to empower structural units of the National Company "KazMunayGas" status of legal persons. This is necessary so that they can quickly solve the social problems of labor collectives.
KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2010 was 13.3million tons of crude oil, including the Company's share in Kazgermunai, CCEL, PKI and NBK. The total volume of proved and probable reserves, as at the end of 2010 was 232million tons (1.7bn bbl), including shares in the associates - about 2.2 billion barrels. The Company's shares are listed on the Kazakhstan Stock Exchange and the GDRs are listed on The London Stock Exchange.