The largest national producing Company of the country - JSC KazMunaiGas Exploration Production (KMG EP) celebrates its 10th anniversary with good financial results: in the first half of 2014, the profit of the Company increased in 5.4 times.
Following the results of the first six months of the year, KazTransOil JSC, the national main oil pipeline operator of the Republic of Kazakhstan, has received a net profit of 36 billion 755 million KZT, which is 10% higher than in the same period of 2013. The agreements reached within the framework of the Eurasian Economic Union development gives confidence in further stable growth of indexes. The company took an active part in the preparation of a draft Treaty of the EAEC, and it is worth noting that Kazakhstan side managed to consolidate its position and interests in the energy area. Kairgeldy Kabyldin, the Executive Director of KazTransOil JSC speaks on the company expected future development.
On June 12, 2014, under the chairmanship of the President Nursultan Nazarbayev, 27th plenary session of the foreign investors Council was held, during which the President of Kazakhstan and the Prime Minister of Italy Matteo Renzi gave a new impulse for bilateral cooperation and further implementation of joint projects in Kazakhstan.
The National Company’s operational results of 2013 were summarized and its priorities for the current year were defined at the expanded Board of JSC National Company KazMunayGaz.
The Government of Kazakhstan is targeted at significant liberalization of the investment climate. It is a forced measure - according to official statistics, last year, the foreign direct investment inflow in the country decreased by $ 4.8 billion - up to $24,137 billion against $28,935 billion in 2012. Significant reputational damage to positioning of Kazakhstan as the "Oil Klondike" was caused by the accident at the Kashagan field almost immediately after the start of production in the autumn of last year.
The results of oil and gas industry operations within the year 2013 were summed up at an expandedsession of the board of the RoK, with the participation of the Ministry of Oil and Gas and Serik Akhmetov, the Prime Minister
Career prospects for women in the oil and gas industry have improved in recent years and an increasing number of women are taking advantage of those opportunities, according to the majority of energy professionals in the inaugural Global Diversity and Inclusion Report.
KUDAIBERGEN Almas Shayikbekuly, the Chairman of Service Companies Association of Kazakhstan KazService answers Petroleum questions.
– Almas, the Association KazService, which is chaired by you, consolidates oilfield service companies, working in different sectors of EPC services market. Therefore, it seems that you might know this market better than anyone. What are the main problems and hot buttons that you can see on it?
Despite the measures being taken by the State to develop the Kazakhstan content in procurements by subsurface users, this problem still remains topical and, in anticipation of the Kazakhstan’s accession to the WTO, is becoming an urgent imperative.
Minister of Oil and Gas of the Republic of Kazakhstan Uzakbai Karabalin gave exclusive interview to Petroleum magazine.
– Uzakbai Suleimenovich, first of all, let me congratulate you on your appointment as Minister for Oil and Gas of the Republic of Kazakhstan. You are an old friend and contributor to our magazine and we'd like to extend our special gratitude to you for agreeing to give this interview for readers of Petroleum.
Peter Costello, President & Asset General Manager BG Kazakhstan, answers the following questions for Petroleum
– Mr Costello, you have been appointed to the position of BG Kazakhstan President. Please, tell our readers a bit more about your previous roles.
Currently, the national company KazMunayGas is a vertically-integrated oil and gas producer performing the complete cyclical turnaround of operations ranging from exploration and production of hydrocarbons, their transportation and processing to rendering specialized services.
Mr. Uzakbay Karabalin has been appointed to the post of the Minister of Oil and Gas Industry of the Republic of Kazakhstan by Decree of President of the Republic of Kazakhstan Mr. Nursultan Nazarbayev. No special introduction is needed for such a well-known and reputable person in oil and gas community like Mr. Karabalin.
The government program in support of domestic manufacturers (the DMs) has been working in Kazakhstan for quite a long time. It was adopted due to objective reasons – for a certain period of time the country experienced fairly loud echoes of the world economic crisis. It is difficult to say that the crisis has dropped into oblivion, because it is a systematic process. Especially , in addition to the crisis producers of goods and services in Kazakhstan meets other challenges in current conditions - that is both the establishment of the Single Economic Space and, most likely, the imminent compliance to the WTO. In this situation, the DMs are in the severe competition environment.
The Minister of oil and gas of the Republic of Kazakhstan Sauat Mynbayev, speaking at the parliament, voiced the results of work of the oil and gas industry last year and spoke about the plans of the Ministry of Oil and Gas for the current year
The Atyrau region is the main supplier of hydrocarbon raw materials in Kazakhstan. Soon, commercial development of Kashagan, the largest field discovered in the last 40 years, will start here. This will lead Kazakhstan to the world’s five largest suppliers of oil.
At the same time, the region should go through many difficulties, because completion of the construction of facilities of the North Caspian project will release thousands of jobs, while the start of the field’s operation will lead to environmental risks. Do the local authorities keep up with the decision of the region’s vital issues which are not limited only to oil production? Our talk with Baktykozha Izmukhambetov, Atyrau oblast Akim (head of regional administration), is about it.