Kazakhstan, Astana, Feb.3/ Trend, T.Nurmagambetov /
National Oil and Gas Company KazMunaiGas intends to close 53 subsidiaries within five years, the company board chairman Lyazzat Kiinov said at the board of the Samruk-Kazyna Fund on Friday.
"Implementation of the programme on restructuring the company's assets for 2012-2016 will allow us to reduce the total number of subsidiaries by 53, from 244 to 191, or 22 per cent by eliminating non-core assets," Mr Kiinov said.
"As a result of optimisation, the number of the corporate centres will hit 370 people this year and this will continue on all subsidiaries and subordinate companies," Mr Kiinov said.
This work is conducted as part of fulfilling the President's instructions to reduce non-core assets and staff in national companies and holdings.