JV Kazgermunai

The company carries out its activity in exploration, development, production and sale of hydrocarbon materials at Akshabulak, Nuraly and Aksai deposits of the South Turgai hollow of Kyzylorda area. In 1993 the foundation agreement, which has initiated the establishment of "JV "KazGerMunai" LLP has been signed between JSC "Uzhneftegas" and group of the German companies (Feba Oil AG and Erbdol Erdgras Gommern GmbH) with the assistance of the government of Kazakhstan. The deposits "Akshabulak","Nuraly" and "Aksai" have been transferred to the Partnership for development. The specialists of the company have immediately started the geology-prospecting works, including seismic survey and drilling of the wells. As a result of such operations, five commercial oil and gas deposits: "Central Akshabulak", "Southern Akshabulak", "Eastern Akshabulak", "Nuraly" and "Aksai" were identified. The following development stage of the company has come in 1996, when «PetroKazakhstan Inc.», according to the earlier signed agreement on privatisation with the Management of the Republic of Kazakhstan, has acquired JSC "Uzhneftegas" along with 50 % shares in two joint ventures: «KazGerMunay» and «Turgay Petroleum». In 2006 50 % of the shareholding of «KazGerMunai» has been redeemed by National Company "KazMunayGas". Today of "JV "Kazgermunai" LLP has a license for oil exploration and production at 897 sq.km. area in South Turgayskiy pool of the South Central part of Kazakhstan. In 2008 the production volume was 3 million tons. Today this indicator is 3.100 million tons that allows "JV "Kazgermunai" LLP to be among the largest oil-producing companies of Kyzylorda area and to enter into ten large oil-producing companies of the Republic of Kazakhstan. Blog of the Board