Kazakhstan, Astana, February 20/ Trend T. Nurmagambetov
KazMunayGas (KMG), Kazakhstan's national oil company celebrates its 10-year anniversary.
The decree of President Nursultan Nazarbayev was to create a company wholly state owned with shares issued on February 20, 2002. This step was taken for the effective development of the oil and gas industry and the protection of Kazakh oil and gas sector interests with regard to the economy.
KMG is the successor of Kazakhoil and the oil and gas transportation companies.
Today, KMG is the owner of 44 oil and gas deposits in the Mangystau and Atyrau regions. The total area of deposits is 837.4 square metres. Production units are to function for more than 90 years and its experts have extensive knowledge and experience
The company also provides 65 per cent of oil transportation, 100 per cent of gas transportation and 50 per cent of all the republic's tanker shipments. KMG operates major oil refining assets in Kazakhstan,and also owns oil refineries in Romania and Georgia.