KazMunaiGas administration reduced by 23%

The administration of KazMunaiGas has been reduced by 23% and the process continues, Kazinform cites CEO Layazzat Kiinov as saying.

The Samruk-Kazyn National Welfare Foundation took Kiinov’s proposals on key adjustments in the company in the last month into account. He said that business goals for exploration of oil and gas resources were set, as well as transport and processing of petroleum and development of petrochemistry.

The KazMunaiGas Board decided to form a working group for restructuring the company. It needs to set 5-6 business targets, CEO of Samruk-Kazyn Umirzak Shukeyev said.

The session also approved formation of a committee for appointments and promotion and a committee for strategy and innovations. The board also made decisions on other procedures.