JSC “EP “KazMunaiGas” is a leading company in the field of hydrocarbon exploration and production in Kazakhstan, and among the leaders of the oil and gas sector in the Caspian region.
Our mission is effective exploitation of hydrocarbons in order to maximize the benefits to shareholders, whilst providing long-term economic and social benefits for the regions of our operations.
In implementation of its mission [and vision] KMG EP is guided by the following priorities:
- Safe working conditions of its employees, as well as rational use of natural resources adhering to the best standards of environmental and health protection.
- Development of human capital, which KMG EP regards as a driving factor in the development and competitiveness of the Company
- Exploration as a basis for long-term growth of the Company and the way to increasing the resource base.
- Profitability as a necessary condition for the existence of the Company
The main objective of KMG EP is the increase in shareholder value. KMG EP seeks to achieve value growth through growing reserves and production of hydrocarbons, improving profitability of existing assets, and developing new business opportunities.
- To increase hydrocarbons production and reserves the Company intends to:
- Maintain current oil production at existing fields
- Increase the recovery rate at existing fields
- Conduct exploration in high prospective exploration areas in Kazakhstan and abroad, and conduct further exploration of existing fields
- Acquire new assets, both in Kazakhstan and abroad, with emphasis on selected priority regions
- Expand the Company’s asset portfolio with offshore projects and natural gas assets
- Profitability of the existing and new assets will be ensured through:
- Improved cost management
- Improved efficiency of business processes and technological processes, including through their automation
- Implementation of new technologies
- Optimization of asset structure and business management model
- Development of new business competences will be achieved through:
- Establishing long-term partnership agreements with leading oil and gas companies in exploration, production, and service
- Staff training and development
- Development of own technical and technological expertise, experience of the management in offshore projects, gas business and international assets including through partnerships with large international oil and gas companies.