Key indicators for 2021
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645hydrocarbon reserves (2P), million tons of oil equivalent
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21.7volume of oil and gas condensate production, million tons
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74.6volume of transportation, million tons
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18.9refining volume, million tons
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1609EBITDA, billion tenge
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669free cash flow, billion tenge
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414capital expenditures on an accrual basis, billion tenge
KMG produces 25% of oil and condensate and 15% of gas in Kazakhstan. Production is carried out by 9 operating assets of KMG, as well as 3 megaprojects, where Chevron Corp, Exxon Mobil Corp, Royal Dutch Shell PLC, Eni SpA, TOTAL SA, Inpex Corp, CNPC, and LUKOIL act as partners.
The total volume of oil and gas condensate production in 2021 was 21.6 million tons or 444 thousand barrels per day. The shares of operating and mega-projects for production amounted to 64% (14 million tons) and 36% (7.7 million tons), respectively.
Until 2031, KMG plans to ensure a total oil production of 240 million tons
| Operating assets | Region | Website |
|---|---|---|
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JSC Ozenmunaigas Share of KMG - 100% Oil and gas condensate production 5,332 thousand tons in 2021 |
Mangystau region |
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JSC Mangystaumunaigaz Share of KMG - 50% Oil and gas condensate production - 2,944 thousand tons in 2021 |
Mangystau region |
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JSC Embamunaigas Share of KMG - 100% Oil and gas condensate production 2,522 thousand tons in 2021 |
Atyrau region |
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JSC Karazhanbasmunai Share of KMG - 50% Oil and gas condensate production -1,048 thousand tons in 2021 |
Mangystau region |
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JV Kazgermunai LLP Share of KMG - 50% Oil and gas condensate production - 727 thousand tons in 2021 |
Kyzylorda region |
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PetroKazakhstan Inc. Share of KMG - 33% Group of companies whose shareholders are CNPC E&D (67%) and EP KazMunayGas (33%) Oil and gas condensate production -600 thousand tons in 2021 |
Kyzylorda region |
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Kazakhturkmunay LLP Share of KMG - 100% Oil and gas condensate production -434 thousand tons in 2021 |
Aktobe region |
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Kazakhoil Aktobe LLP Share of KMG - 50% The participants of the Company on a parity basis are the national company «KazMunayGas» and Caspian Investments Resources Ltd (Sinopec) Oil and gas condensate production -298 thousand tons in 2021 |
Aktobe region |
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Urikhtau Operating LLP Share of KMG - 100% Oil and gas condensate production - 47 thousand tons in 2021 |
Aktobe region |
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| Non-operational assets (megaprojects) | Region | Website |
|---|---|---|
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Tengizchevroil LLP (TCO) Share of KMG - 20% Oil and gas condensate production - 26,553 thousand tons in 2021 |
Atyrau region |
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North Caspian Operating Company N.V. (NCOC) Share of KMG - 8.44% KMG Kashagan B.V. (16.88%), Eni (16.81%), Exxon Mobil (16.81%), Shell (16.81%), TOTAL SA (16.81%), CNPC (8.33%), INPEX North Caspian Sea (7.56%) Oil and condensate production - 16,236 thousand tons in 2021 Production of oil and condensate for the share of KMG (8.44%) - 1,344 thousand tons |
Atyrau region |
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Karachaganak Petroleum Operating B.V. Share of KMG - 10% Production of liquid hydrocarbons - 10,338 thousand tons in 2021 |
West Kazakhstan region |
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KMG controls four of the largest oil refineries in Kazakhstan and two in Romania. In 2021, the total processing volume was 18.9 million tons. KMG’s goal is to increase the depth of oil refining at Kazakh refineries up to 89% by 2031.
| Kazakhstan | Region | Website |
|---|---|---|
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Caspi Bitum Processing capacity 0.9 million tons Share of KMG 50.00%, jointly with CITIC |
Mangystau region |
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Shymkent Oil Refinery Processing capacity 6.0 million tons Share of KMG 49.72%, jointly with CNPC |
Turkestan region |
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Pavlodar petrochemical plant Processing capacity 6.0 million tons Share of KMG 100% |
Pavlodar region |
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Atyrau Oil Refinery Processing capacity 5.5 million tons Share of KMG 99.53% |
Atyrau region |
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| Romania | Region | Website |
|---|---|---|
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Vega Processing capacity 0.3 million tons Share of KMG 54.63%, jointly with the Government of Romania |
Ploiesti district, Ploiesti |
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Petromidia Refinery Processing capacity 4.6 million tons Share of KMG 54.63%, jointly with the Government of Romania |
Constanta district, Nevodar |
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The two oil transportation modes at KMG are trunk pipelines and the marine fleet. In 2021, the consolidated volume of oil transportation through trunk pipelines to KMG was 64,710 thousand tons. The total volume of sea transportation of oil in 2021 was 9,855 thousand tons.
| Transportation by trunk pipelines | Region | Website |
|---|---|---|
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Caspian Pipeline Consortium (CPC) Key destinations: exports to Europe Capacity – 67 million tons per year Share of KMG 20.75% |
Atyrau region |
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MunaiTas North-West Pipeline Company LLP (MT) Key destinations: exports to China, domestic market Capacity – 6 million tons per year Share of KTO 51% |
Almaty |
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Kazakhstan–China Pipeline LLP (KCP) Key destinations: exports to China, domestic market Capacity – 20 million tons per year Share of KTO 50% |
Almaty |
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KazTransOil JSC Key destinations: exports to Europe and China, domestic market The capacity of the Atyrau-Samara section is 17.52 million tons per year Aktau Port capacity - 5.2 million tons per year Share of KMG 90%, 10% of shares is owned by minority shareholders who acquired them under the People’s IPO program. |
Astana |
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| Transportation by sea | Region | Website |
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NMSС Kazmortransflot LLP is the national sea carrier The main routes of sea transportation of oil: • routes in the water area of the Caspian Sea; • routes in the waters of the Black and Mediterranean seas. Share of KMG 100% |
Mangystau region |
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KMG is actively working to create a domestic petrochemical industry which is a new stage in the development of the national company. In 2022, the KPI plant for the production of polypropylene is launched. Also, together with international oil and gas companies, KMG is starting to implement projects for the production of butadiene and polyethylene.
| Region | Website | |
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Kazakhstan Petrochemical Industries Inc. LLP (KPI) Share of KMG: 49.5% Capacity: 500 thousand tons of polypropylene per year |
Atyrau region |
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KMG coordinates service areas by maintaining the current level of production, developing new projects, and increasing competitiveness, and also takes into account its leading role in maintaining social stability in the regions of presence. The service activity of KMG is provided by 11 main companies
| Region | Website | |
|---|---|---|
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KMG Systems and Services LLP Share of KMG - 100% Services: • Granting for use, operation, management, and maintenance of the North Caspian ecological oil spill response base and other infrastructure facilities to support offshore oil operations; • Creation of infrastructure facilities to support offshore oil operations; • Prevention of oil spills and response to them at sea and on land; • Participation in projects for the production and maintenance of oil and gas equipment; |
Astana |
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KMG Drilling&Services LLP Share of KMG - 100% Services: Drilling and construction of offshore oil wells. |
Astana |
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Oil Services Company LLP Share of KMG - 100% Services: • drilling and development of oil and gas wells; • overhaul and underground workover of wells; • chemicalization of technological processes of oil production; • transport services and other activities on a license basis. |
Aktau |
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To replenish reserves, KMG is working on 14 exploration projects (6 onshore and 8 offshore) and is carrying out additional exploration at producing assets.
According to the audit of the international independent consulting company DeGolyer & MacNaughton, prepared in accordance with international PRMS standards, KMG's proved plus probable hydrocarbon reserves (2P) as of December 31, 2021 was 645 mmtoe (4,983 million boe).
| Region | |
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Kurmangazy project Participants: • JSC MNC KazMunayTeniz – 50% share in the PSA; • RN-Exploration LLC (a wholly-owned subsidiary of Rosneft) – 50% share in the PSA. The project operator is Kurmangazy Petroleum LLP, a wholly-owned subsidiary of JSC NC KazMunayGas. The project funding is provided by JSC NC KazMunayGas and RN-Exploration LLC on a parity basis – 50% of costs each. |
Mangystau region |
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Tsentralnaya project Participants: • JSC NC KazMunayGas – 50%; • TsentrCaspneftegaz LLC (a 50/50 joint venture of PJSC LUKOIL and PJSC Gazprom) – 50%. The operator and subsoil user is Central Oil and Gas Company LLC incorporated in the Russian Federation. During the period of exploration, the funding is provided by TsentrCaspneftegaz LLC covering 100% of project costs based on carry-financing. |
Mangystau region |
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Khvalysnkoye project In 2005, JSC NC KazMunayGas and PJSC LUKOIL established a 50/50 joint venture, Caspian Oil and Gas Company, which will be the authorized subsoil user under the Khvalynskoye project once the Production Sharing Agreement is executed. The project funding is provided by JSC NC KazMunayGas and PJSC LUKOIL in the form of loans at interest on a parity basis. |
Mangystau region |
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Turgai project Participants: • JSC NC KazMunayGas – 100%. Currently, the Turgai project is implemented by KMG at its own expense. |
Kyzylorda region |
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Bekturly Vostochny project Participants: • JSC NC KazMunayGas – 50% of subsoil use rights; • Kokel Munay LLP – 50% of subsoil use rights. The project operator is Beсturly Energy Operating LLP. During the period of exploration, the funding is provided by Kokel Munay LLP covering 100% of project costs based on carry-financing. |
Mangystau region |
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Abay project Participants: • JSC NC KazMunayGas – 50% of subsoil use rights; • Eni Isatay B.V. – 50% of subsoil use rights. The project operator is Isatay Operating Company LLP. During the period stretching from the commencement of exploration until approval of the field development project, the funding is provided by Eni Isatay B.V. covering 100% of project costs based on carry-financing. |
Atyrau region |
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Isatay Project Participants: • JSC NC KazMunayGas – 50% of subsoil use rights; • Eni Isatay B.V. – 50% of subsoil use rights. The project operator is Isatay Operating Company LLP. During the period of exploration, Eni Isatay B.V. covers 100% of project costs on the carry-financing basis. |
Atyrau region |
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Zhenis Project Participants: • JSC NC KazMunayGas – 50% of subsoil use rights; • LUKOIL Kazakhstan Upstream LLP 50% of subsoil use rights. The project operator is Zhenis Operating LLP. During the period of exploration, LUKOIL Kazakhstan Upstream LLP covers 100% of project costs on the carry-financing basis. |
Mangystau region |
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Al Farabi Project The subsoil user under the contract is Al-Farabi Operating LLP with the participation of: • JSC NC KazMunayGas – 50.01% • PJSC LUKOIL – 49.99% Funding for the exploration period until the approval of the field development project is provided by PJSC LUKOIL in the amount of 100% of the project costs on the principle of carry-financing and by Eni Isatay B.V. |
Mangystau region |