The PetroKazakhstan Group holds a 50% share in two joint ventures operating in the South Turgai basin – JV Kazgermunai LLP and TURGAI-PETROLEUM  JSC.

JV Kazgermunai is a limited liability partnership that was incorporated in Kazakhstan on 18th  February 1994. Until the middle of 2006 PetroKazakhstan’s partners (50% share) in Kazgermunai were the German company RWE AG (25%), EEG Gmbh (17.5%) and the International Financial Corporation (7.5%). JV Kazgermunai current founders are AO PetroKazakhstan Kumkol Resources and EP KazMunaiGas JSC, each of which holds 50% shares in the JV’s charter capital.

JV Kazgermunai LLP holds Licenses for Development and Production of three oil fields in the South Turgai basin: Akshabulak, Nuraly, and Aksai. JV Kazgermunai was AO PetroKazakhstan Kumkol Resources’ partner in Kyzylorda Gasification Project, which involved construction of Gas Treatment Plant (GTP) at Akshabulak oilfield, and construction of the main pipeline  Akshabulak – Kyzylorda.

JV TURGAI-PETROLEUM was registered as a joint stock company on 22nd August 1995 and since January 1996 has been commercially developing the Kumkol field. With the appearance of a new shareholder, 50% of the company management was transferred to PetroKazakhstan (former Hurricane Hydrocarbons Ltd). TURGAI-PETROLEUM’s current shareholders are the company LUKoil Overseas Kumkol BV, with 50% of JSC's common shares, and PetroKazakhstan Inc., with 50% common shares.

JV TURGAI-PETROLEUM’s main operations are oil exploration and production; transportation, refining and sale of crude oil and oil products. TURGAI-PETROLEUM JSC is developing the Kumkol North field and has a Licence for Development of the part of contractual area of the East Kumkol oilfield.  TURGAI-PETROLEUM JSC was also PetroKazakhstan Kumkol Resources’ partner (50% share) in projects such as the construction and operation of the pipeline Kumkol–Aryskum-Dzhusaly (KAM), including oil loading terminal at Dzhusaly Station, Gas Utilization Plant, and establishment of Demeu Social Fund.