Partners

Karachaganak Petroleum Operating B.V.

Discovered in 1979, the Karachaganak field is one of the largest gas condensate fields in the world. It is located in the northwest of Kazakhstan and covers an area of over 280 square kilometers. Its estimated initial recoverable reserves of hydrocarbons amount to 13.6 billion barrels of condensate and 59.4 trillion cubic feet of gas, with total estimated reserves exceeding 2.4 billion barrels of condensate and 16 trillion cubic feet of gas.

Five major oil and gas companies operate at the Karachaganak field: Eni SpA (29.25%), Shell plc (29.25%), Chevron (18%), LUKOIL (13.5%), and KazMunayGas (10%).

In 1997, the partners of the joint venture and the authorized body representing the government of the Republic of Kazakhstan established a company to develop the Karachaganak field. A Final Production Sharing Agreement (PSA) was signed, defining the terms of joint development of Karachaganak until 2038.

« Samruk-Energy »

«Samruk-Energy» joint-stock company (hereinafter – «Samruk-Energy» JSC or the Company) was established on April 18, 2007 by resolution of general meeting of founders in order to develop and implement a long-term state policy on upgrading of existing and introduction of new generating facilities. The founders of the Company at the time of its establishment were «Kazakhstan holding for management of state assets «Samruk» JSC and «KazTransGaz» JSC.
The Company was registered on May 10, 2007. The central office of the Company was relocated to Almaty city.
Main products: - Electricity production - Heat production - Transmission and distribution of electricity - Production of steam coal Production capacity: As of January 1, 2024, the installed capacity of “Samruk-Energy” JSC power plants was 7 345 MW, representing 29,8% of the total installed capacity of the Unified Power System of Kazakhstan. Electricity production for the first nine months of 2024 amounted to 29,29 bn. kWh, with “Samruk-Energy” JSC accounting for 33,8% of the total electricity generation in Kazakhstan. Coal production over the same period reached 31.2 mln. tons, with the Company’s share of total coal production in Kazakhstan standing at 40,1%. The volume of heat delivered by “Samruk-Energy” JSC power plants for the first nine months of 2024 was 3.8 mln. Gcal.

Samruk-Kazyna JSC

Samruk-Kazyna JSC is to ensure sustainable economic development and create long-term value through effective management of a diversified portfolio of assets and business support in the interests of the people of the Republic of Kazakhstan.
Effective asset portfolio management The strategic goal is to double the value of net assets by 2032 compared to 2021. The fund will ensure optimization and improvement of portfolio quality, introduction of advanced technologies, as well as improvement of the business model
Ecosystem for business The strategic goal is to develop competition. The Fund will continue to work on transferring assets into a competitive environment. As a co-investor, the Fund will only participate in critical projects that cannot be implemented by private investors.
Sustainable development The strategic goal is to implement ESG principles. The key factors must be human well-being, environmental sustainability, while ensuring long-term financial sustainability based on best business practices and corporate governance principles. This will help increase the long-term value of assets and increase investment attractiveness.
Taking into account the current socio-economic development of the country and the role of the Fund for the Country’s Economy, it seems appropriate today to focus investments, first of all, in the economy of Kazakhstan, including for the purpose of implementing strategic projects. In this regard, the Fund’s management model for the next 7 years is defined as a strategic holding with the tasks of maintaining the social and infrastructural development of the country. By 2030, the Fund must switch to the operating model of an investment holding company under favorable market conditions while maintaining a majority share in the Fund’s strategic assets. In order to strengthen its competitiveness and reputation as a “promising partner” on a global scale, the Fund will strive to diversify its portfolio and fill it with breakthrough projects with a high share of exports.