Corporate Governance | ROSNEFT-SHELL CASPIAN VENTURES LIMITED

Corporate Governance

Corporate Governance System - a set of processes that ensure management and control over ROSNEFT-SHELL CASPIAN VENTURES LIMITED's activities, as well as a system of relationships between shareholders, the Board of Directors, the Management Board, and stakeholders.

The corporate Governance Code is the main document that determines the ROSNEFT-SHELL CASPIAN VENTURES LIMITED's corporate governance practices and their improvement.

Document

Corporate Governance Code

Key indicators in 2023

924

Profit,
billion tenge
1162

Taxes and other
obligatory payments to the
budget, billion tenge
2186

Purchases,
billion tenge
77
%

Share of local
content in purchases

Corporate Governance Rating

Based on the results of an independent examination conducted in 2021, ROSNEFT-SHELL CASPIAN VENTURES LIMITED was assigned a corporate governance rating of «BBB». This rating means the compliance of the corporate governance system in all material respects with most of the established criteria, and at the same time proving the system is operating effectively.

BBB

ROSNEFT-SHELL CASPIAN VENTURES LIMITED’s Corporate Governance Structure

Shareholders

Shareholders of NC KazMunayGas JSC are Samruk-Kazyna Joint Stock Company (67.42%), National Bank of the Republic of Kazakhstan (9.58%), Ministry of Finance of the Republic of Kazakhstan (National Fund of the Republic of Kazakhstan) – (20%) and minority shareholders (3%).
At the same time, the shares owned by the National Bank of the Republic of Kazakhstan are in trust of Samruk-Kazyna Joint Stock Company.

67,42%

9,58%

20%

Board of Directors

Carries out general management of ROSNEFT-SHELL CASPIAN VENTURES LIMITED's activities, determines priority areas and the Company's development strategy

Management Board

Management Board is a collegial executive body of ROSNEFT-SHELL CASPIAN VENTURES LIMITED that manages its day-to-day activities.

Corporate Secretary

Supports systematic communications between ROSNEFT-SHELL CASPIAN VENTURES LIMITED and shareholders, shareholders and the Board of Directors, the Internal Audit Service, the Compliance Service, the Ombudsman, the Management Board, and other bodies of ROSNEFT-SHELL CASPIAN VENTURES LIMITED.

Ombudsman

Assists in resolving disputes, conflicts, and issues of a social and labor nature.

Compliance

Ensures compliance with mandatory anti-corruption requirements.

Internal Audit Service

Carries out control over the financial and economic activities of ROSNEFT-SHELL CASPIAN VENTURES LIMITED, assessment in the field of internal control and risk management.

Risk Management and Internal Control

Prevents risk events that affect the achievement of strategic and operational goals and limit their impact if they occur.

Structure of the ROSNEFT-SHELL CASPIAN VENTURES LIMITED Group of Companies

The ROSNEFT-SHELL CASPIAN VENTURES LIMITED Group of Companies includes 110 companies in which 50 percent or more of the voting shares (participatory interests) are directly or indirectly owned by ROSNEFT-SHELL CASPIAN VENTURES LIMITED, of which 56 companies are located on the territory of the Republic of Kazakhstan.

Corporate Documents