Company

Private Company with Limited Liability "KAZ NV Petroleum" (KAZ NV) was incorporated in October 2005 by the Joint Stock Company “National Company ‘ KazMunayGas’" (KMG). The primary intent of KMGK is to control the Kazakhstan participating interest in the Production Sharing Agreement in respect of the North Caspian Sea as of November 18, 1997 (PSA) entered into between the Republic of Kazakhstan and the International Consortium. The KMGK' s participating interest in the PSA is 16,88%.

Role and functions of KMGK

• Representing of KAZ NV' s interests in the PSA and participation in the oil operations for hydrocarbons exploration and production in the Caspian sea under the North Caspian project (NCP).
• The KAZ NV' s development and transformation into the world class company with the purpose of independent implementation of major projects for oil fields development.
• Participation in the project management as the Contracting company.
• Financing of oil operations and other expenses under the NCP; cost accounting.
• Participation in the increase of Kazakhstani content and nationalization of personnel.
• Arranging of oil and by-products offtake, transportation and marketing