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Joint ventures
The PetroKazakhstan Group holds a 50% share in two joint ventures operating in the South-Turgai basin – JV Kazgermunai LLP and JSC Turgai-Petroleum.
The current shareholders of JV Kazgermunai LLP are JSC PetroKazakhstan Kumkol Resources and JSC NC KazMunaiGas, 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 had been a partner of PKKR in Kyzylorda gasification project, which involved the construction of gas treatment plant at Akshabulak oilfield, and construction of the main gas pipeline Akshabulak – Kyzylorda.
The current shareholders of JSC Turgai-Petroleum are the company KVK – Petroleum LLP, 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. JSC Turgai-Petroleum is developing the Kumkol North field and has a license for development of the part of contractual area of the East Kumkol oilfield. JSC Turgai-Petroleum also was the partner of PKKR (with 50% share) in such projects as the construction and operation of the pipeline Kumkol–Aryskum-Maibulak (KAM), including oil loading terminal at Dzhusaly station, Gas Utilization Plant, and establishment of Demeu Social Fund.