23 per cent personnel reduction at Kazakh KazMunaiGas
Azerbaijan, Baku, March 16 / Trend E. Kosolapova/
The Kazakh National Oil and Gas Company KazMunaiGas (KMG) has reduced its administrative and management personnel by 23 per cent, the company's chairman of the board Lyazzat Kiinov said on March 15 at the regular board meeting, the Kazakh National Welfare Fund Samruk-Kazyna reported.
"Moreover, work on personnel reduction continues," Lyazzat Kiinov said.
At the meeting Kiinov informed members of the board of directors about key indicators in various areas of KMG's industrial activity.
"Authorities' duplication was eliminated and the responsibility of senior staff for performance targets increased," Kiinov said.
At the meeting, the Board decided to create a working group on restructuring the KMG group of companies.
According to the chairman of Samruk-Kazyna Umirzak Shukeyev, it is necessary to determine KMG's five to six areas of activity.
"All non-core assets should be transferred to the competitive areas, or reduced," Shukeyev said.
The work on personal and non-core assets reduction is being conducted as part of fulfilling the President's instructions for national companies and holdings.
KazMunaiGaz is the Kazakh national operator for exploration, production, refining and transportation of hydrocarbons, representing the state interests in Kazakhstan's gas and oil industry. KazMunaiGas shares are wholly owned by the Samruk-Kazyna National Welfare Fund.