Kazakh National Oil and Gas Company KazMunaiGas (KMG) plans to liquidate some of its subsidiaries and take its functions, KMG chairman Sauat Mynbayev announced.
“KazMunaiGas – Refinig and Marketing” will be liquidated probably until the yearend, “KazTransGas” will be liquidated in the first half of 2017″, Mynbayev said.
He noted that subsidiaries of KazTransGas – InterGaz Central Asia and KazTransGas Aimak, which pumped gas in Kazakhstan, would fall under direct control of KazMunaiGas after liquidation of KazTransGas.
The change will allow reducing the administrative and managerial staff by 20%.
Meanwhile Mynbayev said that KazMunaiGas would not close another huge subsidiary KazTransOil and it would continue pumping oil. But some of its functions, such as control of its subsidiaries and development of its strategy will be transferred to KazMunaiGas.
KazMunaiGas is Kazakhstan’s national operator for exploration, extraction, refining and transportation of hydrocarbons. (Trend/Business World Magazine)