KazMunayGaz marks 10th anniversary

Read on the website Vestnik Kavkaza

KazMunayGaz, the Kazakh national petroleum company, is marking its 10th anniversary, Trend reports.

Kazakh President Nursultan Nazarbayev ordered formation of the company on February 20, 2002, for efficient development of petroleum industry and protection of interests of the country on the petroleum market.

KazMunayGaz is the successor of Kazakhoil and Transport of Oil and Gas.

KazMunayGaz owns 44 oil and gas fields in the Mangystau and Atyrau Regions. Its fields total 837.4 square meters. The company’s production units have been operating for 90 years.

The company fulfills 65% of oil shipments, 100% of gas shipments, 50% of tanker shipments. The company has refineries in Romania and Georgia.