“KazMunayGas” presented a long-term strategy of industry development

Almaty, October 07, 2009 (Khabar) - A conference dedicated to the oil and gas transportation issues took place at the KIOGE-2009 exhibition. The national company “KazMunayGas” has presented a long-term strategy of industry development. It is directed to the growth of company’s cost, the formation of effective investing package and the increase of management’s effectiveness. The strategy includes 7 important infrastructural projects. 3 of them are connected to the oil extracting and oil delivering systems of North Caspian. One of the most priority projects is the construction of Beineu-Bozoy-Akbulak pipeline. Its realization will help to provide gas the South of the republic. The creation of the first integrant oil and gas complex will let to produce the European standard petrol in Kazakhstan. Two more projects provide the re-construction and modernization of Kazakhstani oil refining factories and the start of producing of road bitumen in Aktau plastic-plant.

Kairgeldy Kabyldin, chairman of board, National Company “KazMunayGas”:
- Last year we got the historical maximums at incomes – 3.2 trillions tenge. The clear profit was about 300 billions tenge. We have paid 560 billions for taxes and other budget payments. This year when our budget has corrected the oil price to 50 tenge for the barrel, we expect about 1.8 trillion incomes. The clear profit will be about 198 billions tenge and we will pay about 370 billion for taxes.

“KazMunayGas” has worked out anti-crisis program. It will help not to reduce the subscriptions to the state budget. Particularly the administrative expenses will decrease for 44 per cent and the management staff will be reduced for 15 per cent. At the same time all work places are saved, social programs operate in the same volume. Totally the company’s expenses are increased for 17 billions tenge.