Corporate risk management system
KazMunayGas has integrated corporate risk management system
(CRMS) into key business processes. CRMS is a key component of the corporate governance system aimed at
timely identification, assessment, monitoring and mitigation of potential risks that may adversely affect
the achievement of the strategic and operational goals of KMG and its subsidiaries and affiliates.
Company has built a vertical risk management process and the functioning of the risk management system at all levels of management. Risks are assessed using qualitative and quantitative tools that consider the likelihood of occurrence and impact when a risk occurs.
The Corporate Risk Management System of NC KazMunayGas JSC and its subsidiaries and affiliates defines the terminology, scope, goals, basic principles, organizational structure of the CRMS for the KMG Group, and is also aimed at timely identification, assessment, and monitoring of all significant risks, as well as timely and adequate measures to reduce the level of risks.