News 2015
November 2015KazMunayGas
Most companies from the KazMunayGas Group will be privatized, reports KazTAG, referring to Mr.Umirzak Shukeyev, Chairman of Board, the State Welfare Fund "Samruk-Kazyna". "Now we announce new, even more ambitious privatization program of the major assets. For example, KMG decided to keep only 75 from 206 companies,"- he said on November 18 at the expanded meeting of the Government.
According to him, the sphere of refining and marketing, including all the refineries, as well as the fuel station network, shall be privatized by selling 51% of KazMunayGas-Refining and Marketing. Among the facilities to be sold: not less than 51% of KMG International, including Rompetrol. "After optimization"of KazTransOil, only the pipeline transport activities shall remain in the midstream segment. Kazmortransflot and Batumi terminal will go for privatization, he said.
"As to upstream segment- exploration and production, the packages in our key projects will be kept- shares in TCO, Kashagan and Karachaganak. The current level of control in own production assets will also remain the property of KMG-I mean Emba and Uzen. On the contrary, we propose to consolidate this sphere by removing the excess links and by preparing KMG for IPO by 2018, when we will launch financial centre "Astana"- added U.Shukeyev.