The Company’s New Strategy and Our Goals

As a vertically integrated national oil and gas company, KMG successfully resolves tasks at hand, focuses its efforts on further development of country’s oil and gas sector and assists the Government with social and economic development of the Republic of Kazakhstan.

Before 2017, the Company pursued a dynamic growth strategy through debt-financed investments and acquisitions, which was the main reason for the high debt of KMG. The Company managed to purchase major assets, increase hydrocarbon reserves, upgrade oil refineries, expand and build new infrastructure to transport and export oil and gas inside the country and abroad. This facilitated progressive development of the economy and contributed to energy security of the country.

The development strategy adopted by the Company in 2018 was aimed at gradual organic growth and mainly focused on financial stability. During these years, the Company mainly achieved mid-term objectives at hand.

In 2020, the Company developed 2020-2021 Anti-Crisis Measures to overcome adverse effects of the global crisis. KMG delivered on its commitments to cut oil and gas production under OPEC+ Agreement, ensured continuity in all business areas, preserved its financial stability, continued to invest in development projects, and retained potential for further growth. Considering the changes in KMG’s asset portfolio due to entry into the oil and gas chemical business and the spin-off of KTG as a separate national company within Samruk-Kazyna JSC, as well as the global trend towards a clean energy transition and stricter carbon regulation, the Company approved a new 2022-2031 Development Strategy in 2021.

The Company recognises the importance of its economic, environmental and social impacts and will continue to integrate sustainability principles into its key business processes to align economic, environmental and social priorities as well as corporate governance objectives.

The Company’s growth over the next ten years will be driven by increase in its resource base, efficiency of current operations, development of new process stages, implementation of modern technologies and reduction of its carbon footprint.

Vision

A national vertically-integrated oil and gas company that meets high safety and sustainability standards and is focused on maximising the financial performance.

Mission

We develop natural resources in an effective and sustainable manner to ensure energy security, development and prosperity of Kazakhstan, caring about future generations.

goals

KMG Mission defines four strategic goals.

1. Sufficient resource base to support the Company’s growth.
2. Increasing efficiency of the Company’s value chain.
3. Business diversification and product portfolio expansion.
4. Sustainable development and gradual decline of carbon intensity of operation.