KazMunaiGaz Company News

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Kazakhstan's Giant Kashagan Oil Field Begins Commercial Output
Monday, November 21, 2016Kazakhstan's giant Kashagan oil field starts commercial output, a milestone for the repeatedly delayed $55 billion project.

Kazmunaigas EP Says Cash Flow Stabilises
Monday, July 04, 2016Kazakh oil producer KazMunaiGas Exploration and Production (KMG EP) stabilises its cash flow as oil prices recover.

Chevron Deadline Nears For $40B Bet On Next Decade's Oil
Friday, July 01, 2016Chevron Corp. may shortly give a green light to the most expensive oil project in the world this year as the industry digs out from the worst slump in a generation.

Kazakh Kazmunaygaz Says May Borrow to Fund Upstream Subsidiary Buyout
Thursday, April 21, 2016Kazmunaygaz may raise new debt to finance the buyout of minority shareholders of its upstream subsidiary KMG EP in a deal worth about $1 billion, according to its managing director.

Kazakh KMG EP Proposes No Dividend for 2015
Thursday, March 31, 2016State-controlled Kazakh oil firm Kazmunaigas Exploration and Production says its board has recommended paying no dividend for 2015.

Kazakh State Oil Firm to Maintain or Increase Output This Year
Thursday, March 17, 2016Kazakh state oil and gas firm KazMunayGaz will either maintain or increase its oil output this year compared with last year's 22.7 million tons, says chief executive Sauat Mynbayev.

Kazakh Fund Signs Loan For Up To $1.5B To Buy Stake In Kashagan Oilfield
Tuesday, October 27, 2015Samruk-Kazyna signed a 5-year syndicated loan worth up to $1.5B to help it buy a stake in the Kashagan oilfield from KazMunaiGas.

Kazakh Wealth Fund to Sell 10% in State Oil Firm KMG to Central Bank
Wednesday, July 29, 2015Kazakhstan's sovereign wealth fund will see 10 percent of its shares in state oil firm KazMunaiGas to the country's central bank.

ONGC Videsh Takes Stake in Kazakh Block
Thursday, October 13, 2011ONGC Videsh signed a tripartite agreement with the Ministry of Oil and Gas of Kazakhstan and Kazmunaigaz to give effect to OVL's 25% participating interest in the Satpayev Block in Kazakhstan.

KazMunaiGas Acquires NBK, SapaBarlauService
Monday, September 27, 2010KazMunaiGas has reached agreements and completed the transactions with Eastern Gate Management to acquire 100% of NBK and with Halyk Komir to acquire 100% of SapaBarlauService.

OMEL, KazMunaiGaz to Jointly Explore Satpayev Block in Caspian Sea
Tuesday, January 27, 2009OMEL and KazMunaiGaz have signed a Heads of Agreement for exploration of oil and gas in Kazakhstan's Satpayev Block, located in the Caspian Sea.

Kashagan Final Deal with Kazakh Govt. to Be Signed Friday
Wednesday, October 29, 2008Chief Executive Paolo Scaroni said he expects the Eni-led consortium to sign the final agreement with the Kazakh government over the Kashagan oil project on Friday, putting an end to a spat that started almost 18 months ago.

Kazmunaigaz Production Up 19% on Year
Friday, July 18, 2008Kazmunaigaz announced that its total crude oil production in the first half of 2008 was 5,899 thousand tonnes, an increase by 19.4% compared to last year's figures. The increase is mainly due to the acquisition of 50% more shares.

Gazprom et al agree to Sell Natural Gas at European Prices
Tuesday, March 11, 2008Gazprom hosted a meeting of Alexey Miller, Chairman of the Management Committee of Gazprom, Uzakbai Karabalin, President of KazMunaiGaz, Nurmmukhamad Akhmedov, Chairman of the Management Committee of Uzbekneftegaz and Yagshigeldy Kakaev, Turkmengaz.

KazMunaiGas Increases Reserves by 18%
Tuesday, February 05, 2008The main reason for the reserves increase is a revision of the Uzen field development plan. The current production level can be sustained for approximately the next 10 years, at least five years longer than originally envisioned.

Chevron Starts Up Production of Expansion of Tengiz
Tuesday, January 29, 2008Chevron's affiliate Tengizchevroil started up new facilities as part of the first phase of its expansion at the Tengiz Field in Kazakhstan. This initial expansion of 90,000 b/d brings Tengizchevroil's current capacity to a total of 400,000 b/d.

Second Section of the Kazakhstan-China Oil Pipeline Begins Construction
Thursday, December 13, 2007The pipeline, with a full length of 2,798 kilometers, starts at Atyrau at the Caspian Sea and ends at Alataw Pass on the border of Kazakhstan and China via Aktobe.

Kazakh Oil Minister Hopes for Kashagan Deal by Nov 30
Wednesday, November 14, 2007Kazakhstan Energy Minister Sauat Mynbayev Wednesday said he hopes to reach an accord with the consortium developing the giant Kashagan field by the end of the month.

Eni CEO: Kashagan Group United in Talks with Kazakh Government
Tuesday, November 13, 2007The consortium behind the development of Kazakhstan's giant Kashagan oil field are united in their talks to resolve a dispute with the government of Kazakhstan over the development of the field, Eni chief Paolo Scaroni said Tuesday.

Kazakhstan Wants Kashagan Talks to End By Nov 30
Friday, November 02, 2007Talks between the Kazakh government and Eni SpA (E) -led Kashagan consortium about production delays and rising costs at the giant Kashagan oil field have to end by Nov. 30, Interfax news agency quoted a senior Kazakh official as saying Friday.

BG, Partners Agree to Karachaganak Gas Sales Deal
Friday, June 01, 2007BG Group and partners on Friday agreed on the terms of the Phase III Karachaganak Gas Sales Agreement (GSA) with KazRosGaz, a joint venture between Gazprom and KazMunaiGaz.

KazMunaiGaz Increases Oil Production
Wednesday, October 18, 2006In the first nine months of the current year KMG EP increased volumes of oil production compared to the equivalent period last year.

Gaz de France Sells stake in KazGerMunai JV
Wednesday, July 19, 2006Gaz de France finalized a transaction to sell the Group's 17.5 percent stake in the Kazakh Joint Venture Company KazGerMunai LLP (KGM) to Kazakh national oil company KazMunaiGas JSC, for an amount of US $350 million.

RWE Dea Sells Stake in KazGerMunai JV
Wednesday, July 19, 2006RWE Dea AG has sold its 25 percent stake in the KazGerMunai joint venture (KGM) in Kazakhstan to the Kazakh company Kazmunaigas.