Key indicators for 2024
-
716hydrocarbon reserves (2P), million tons of oil equivalent
-
23.8volume of oil and gas condensate production, million tons
-
83.5volume of transportation, million tons
-
19.2refining volume, million tons
-
2001EBITDA, billion tenge
-
1199free cash flow, billion tenge
-
645capital 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
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.
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.
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.
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
To replenish reserves, KMG implements 11 exploration projects (6 onshore and 5 offshore) and carries additional exploration out at production 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 (2R) as of December 31, 2024 amounted to 716 million tons of oil equivalent (5,551 million barrels of oil equivalent).
Region | |
---|---|
Kurmangazy project Project participants: • NC KazMunayGas JSC - 50% share in the PSA; • RN-Exploration LLC (a 100% subsidiary of Rosneft) - 50% share in the PSA. The project’s Operator is Kurmangazy Petroleum LLP - 100% of the share capital belongs to NC KazMunayGas JSC. The project is financed by NC KazMunayGas JSC and RN-Exploration LLC on a parity basis - 50% of the costs. |
Kazakhstan sector of the Caspian Sea |
Central Project Project participants: • NC KazMunayGas JSC - 50%; • CenterKaspneftegaz LLC (joint venture (JV) 50/50% of LUKOIL PJSC and Gazprom PJSC) - 50%. The subsoil user is Oil and Gas Company Central LLC, registered in the Russian Federation. Funding during the exploration period is provided by CenterKaspneftegaz LLC. |
Russion sector of the Caspian Sea |
Khvalysnkoye project In 2005, NC KazMunayGas JSC and LUKOIL PJSC created a 50/50% joint venture - Caspian Oil and Gas Company LLC which will have the right for subsoil use after signing the Production Sharing Agreement. The project is financed by NC KazMunayGas JSC and LUKOIL PJSC on a parity basis. |
Russion sector of the Caspian Sea |
Turgay-Paleozoic Project Project participant: • NC KazMunayGas JSC - 100%. At this stage, the Turgai project is expected to be implemented using KMG's own resources and at KMG's own expense. |
Kyzylorda region |
Bekturly Vostochny project Project participants: • NC KazMunayGas JSC - 50% of subsoil use rights. • Kokel Munay LLP - 50% of subsoil use rights. The project operator is Beсturly Energy Operating LLP. Financing for the exploration period is carried out by Kokel Munai LLP on a carry financing basis. |
Mangystau region |
Abay project Project participants: • NC KazMunayGas JSC - 50% of subsoil use rights; • Eni Isatay B.V. - 50% of subsoil use rights. The project operator is Isatay Operating Company LLP Funding for the exploration period is provided by Eni Isatay B.V. on a carry financing basis. |
Kazakhstan sector of the Caspian Sea |
Al-Farabi Project The subsoil user under the contract is Al-Farabi Operating LLP with the participation of: • NC KazMunayGas JSC - 50.1%; • LUKOIL PJSC - 49.99%. Financing for the exploration period is provided by PJSC LUKOIL on a carry financing basis. |
Kazakhstan sector of the Caspian Sea |
Taysoygan-1,2 Project The subsoil user under the contract is Embamunaygas JSC (100% subsidiary of NC KazMunayGas JSC). At this stage, projects are expected to be implemented in-house and at the expense of EMG's own funds. |
Atyrau region |
Karazhar Project The subsoil user under the contract is Kazakhturkmunay LLP (100% subsidiary of NC KazMunaiGas JSC). At this stage, projects are expected to be implemented using KTM's own resources and with funding from KMG. |
Aktobe region |
Karaton Podsolevoy Project The subsoil user under the contract is Karaton Operating with the participation of • NC KazMunayGas JSC - 50%; • TATNEFT PJSC - 50%. Financing for the exploration period is carried out by TATNEFT PJSC on the principle of carry financing. |
Atyrau region, Mangystau region |