Kazakhstan - 03

Kazakhstan: Efficiency Drive at KMG

Kazakhstan’s KMG held numerous meetings and workshops in August seeking to increase efficiency in its own production as well as joint work with IOCs. The company also used these events to publicize the achievements of its ongoing transformation program. Last week, KMG’s E&P and strategy teams completed a preliminary overview of its subsidiaries’ and affiliates’

Kazakhstan - 04

Kazakhstan: KMG Follows Rosneft with Advance Cash-for-Oil Payments

KMG announced this week that it plans to receive up to $3bn in advance payments from Vitol in exchange for crude shipments from its stake in the Tengiz oilfield. KMG has prepared for this deal since September, right after it sold half of its stake in the troubled Kashagan project to the Samruk-Kazyna Welfare Fund