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Corporate Governance

Corporate Governance System - a set of processes that ensure management and control over KMG'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 KMG's corporate governance practices and their improvement.
Key indicators in 2022
  • 1317
    billion tenge
  • 1176
    Taxes and other
    obligatory payments to the
    budget, billion tenge
  • 1700
    billion tenge
  • 82
    Share of local
    content in purchases
Corporate Governance Rating

Based on the results of an independent examination conducted in 2021, KMG 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.

KMG’s Corporate Governance Structure

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 – (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.


Board of Directors

Carries out general management of KMG's activities, determines priority areas and the Company's development strategy


Management Board

Management Board is a collegial executive body of KMG that manages its day-to-day activities.

Corporate Secretary

Supports systematic communications between KMG and shareholders, shareholders and the Board of Directors, the Internal Audit Service, the Compliance Service, the Ombudsman, the Management Board, and other bodies of KMG.



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



Ensures compliance with mandatory anti-corruption requirements.

Internal Audit Service

Carries out control over the financial and economic activities of KMG, 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 KMG Group of Companies

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

Corporate Documents