Elvira Yesetova, Lead Engineer at KPI, was chosen to feature on the cover of the 2025 Report. For several years now, the Company has been running programmes to unlock the potential of women and young professionals. Elvira represents this particular segment of our employees. She also embodies the qualities inherent in KMG such as energy, commitment to continuous development, and the pursuit of new knowledge and horizons.
Elvira was born in 1992. From an early age, she was passionate about technical disciplines and aspired to become an engineer. She graduated from Kazakh- British Technical University with a degree in Petroleum Engineering and holds an IPMA Level D Project Management certificate. Elvira has served as the lead engineer since 2019 and contributes to projects designed to develop a new strategic business line within the Company. “Working at KPI is exciting, and I gained unique insights during the plant start-up,” says Elvira.
of 2025
Prospecting well at the Karaton Subsalt block in the Atyrau Region
Berezovsky
Zhylyoi
The Ministry of Energy of the Republic of Kazakhstan, KMG and China’s Sinopec signed a hydrocarbon exploration and production contract for the complex subsoil area of the Berezovsky block located in the West Kazakhstan Region.
- West Kazakhstan Region
- Project implemented on a 50/50 parity basis with carry financing
- Akkaiyn Operating LLP as the project operator
Prospects: the Berezovsky block’s potential is associated with subsalt formations of the northern marginal zone of the Caspian basin where targets are located at significant depths in a complex geological and technical environment.
In 2025, KMG completed drilling of two deep wells under the Turgai Palaeozoic project in the Kyzylorda Region and the Karaton Subsalt project in the Atyrau Region, with depths of 5,585 m and 5,750 m, respectively.
Based on drilling results at the Karaton Subsalt block (southern margin of the Caspian sedimentary basin), we identified promising intervals, which are scheduled for testing in 2026.
The Ministry of Energy of the Republic of Kazakhstan, KMG and China’s CNOOC signed a hydrocarbon exploration and production contract for the complex subsoil area of the Zhylyoi block located in the north-eastern part of the Caspian Sea. This is the first time CNOOC is making investments in the Republic of Kazakhstan.
- Atyrau Region
- Project implemented on a 50/50 parity basis with carry financing
- Zhylyoi Operating LLP as the project operator
Prospects: the Zhylyoi block is located in the transit zone of the north-eastern Caspian Sea, which poses certain technical challenges while also creating new opportunities for the application of advanced exploration and production technologies. The block’s potential is associated with suprasalt and subsalt formations of the southern marginal zone of the Caspian basin.
«Operating review»
«Operating review»
business diversification and product portfolio expansion
Future gas separation unit in the Atyrau Region
- Design capacity of 500 thous. tonnes of granulated polypropylene per year
- The facility produces 15 grades of polypropylene, including premium ones. Five grades from the product portfolio were not previously manufactured in Kazakhstan
- Project participants: KMG (49.5%),SIBUR Holding (40%),Samruk-Kazyna Ondeu (9.5%),Firm Almex Plus (1%)
- Construction began on the grounds of the National Industrial Petrochemical Technopark special economic zone in the Atyrau Region
- Silleno products will substitute some 90% of imported polyethylene grades
- Project participants: KMG (40%)Sinopec Overseas Investment Holding (30%)SIBUR Holding (30%)
- Some 8,000 new jobs at peak construction
- Approximately 800 permanent jobs following production launch
- Production launch is scheduled for 2029
- The planned product range comprises more than 20 polyethylene grades (with the premium segment accounting for 40%)
- Finished products will target both the domestic market and exports to the CIS, Europe, China, and Türkiye.
«Strategic report»
KMG Control Centre Analytical System
The system harnesses artificial intelligence to analyse video streams in real time, monitor compliance, and automatically notify security services of violations.
TUMAR, an automated smart system, ensures safety during hazardous operations in well services and workovers.
- TUMAR automatically detects violations and activates visual or audio alerts in the event of a threat.
- In total, nearly 15 thous. images were processed to train the models, with more than 183 thous. objects labelled across 16 classes.
Software incorporating predictive equipment failure analytics enables advance planning of maintenance operations and ensures uninterrupted production processes.
- The smart system comprises multiple independent modules designed to streamline processes in exploration, drilling, field development, and economic performance assessment.
- Advanced Base Artificial Intelligence (ABAI) is a full-scale big data project powered by artificial intelligence technologies.
- KMG Engineering, a wholly owned subsidiary of KMG, acts as the system developer.
«Operating review»
- Stable generation of free cash flow.
- Liquidity hitting its highest level since 2018 (USD 6.2 bln).
- Balanced debt maturity profile.
- Net debt declining to a historic low of USD 742 mln.
- Low leverage providing sufficient borrowing capacity to implement major investment projects.
In 2025, KMG issued CNY-denominated bonds. The debut Dim Sum bonds were listed on the Hong Kong Stock Exchange and the Astana International Exchange, enhancing the Company’s visibility in international capital markets.
Issue details:
- coupon rate of 2.950%;
- yield of 3.150%;
- issue volume of CNY 1.25 bln;
- maturity period of 5 years.
Total demand reached approximately CNY 3.8 bln, reflecting strong investor interest and confidence in KMG’s credit quality.
“This issue is not merely a financial transaction, but a strategic move designed to diversify funding sources, broaden the investor base, and actively tap into Asian capital markets.”
Deputy Chairperson of the Management Board
KMG’s credit ratings are aligned with the sovereign ratings of the Republic of Kazakhstan.
Credit ratings: sovereign ratings of Kazakhstan, KMG
| Kazakhstan | Baa1 (Stable) | BBB- (Positive) | BBB (Stable) |
| KMG | Baa1 (Stable) | BBB- (Stable) | BBB (Stable) |
Financial review»
Kenderly plant: a new source of drinking water in Zhanaozen
KMG constructed a desalination plant 100 km away from Zhanaozen on the instruction of the President of Kazakhstan.
- One of the Company’s largest social infrastructure projects in the Mangistau Region
- Plant capacity of up to 50 thous. m3 per day
- Project implemented by Ak Su KMG, a subsidiary of Ozenmunaigas
A modern Schoolchildren Palace (Bolashaq Sarayi) opened in Zhanaozen
- Total area of over 3 thous. m3
- Capacity of 350 students at a time
- Designed for shift-based attendance of up to 1.5 thous. students
- Featuring modern educational and creative facilities
Kassym-Jomart Tokayev, President of Kazakhstan, designated 2025 as the Year of Working Professions. KMG was among the first companies in the country to support this initiative.
- More than 44 thous. blue-collar employees work at KMG’s production facilities
JanAru educational programme
As part of the Year of Working Professions and in support of the country’s gender policy, KMG launched an educational programme designed to help women pursue careers in blue-collar roles in the oil and gas industry.
The programme’s objective is to support the professional and personal development of women employed at production facilities.
- 47 participants
- 12 subsidiaries and associates
- Roles include the pumping station operator, reservoir pressure maintenance operator, oil and gas production operator, well testing operator, control panel operator, product-handling operator, chemical laboratory technician, electrician, and cook.
ALYP programme to foster professional development and lean culture
- 63 young talents proposed initiatives to improve production efficiency
- 13 subsidiaries and associates
- 49 projects implemented to enhance operational performance, HSE and digital processes
- Expected annual economic effect of around KZT 989 mln
«Ensuring sustainable development»
The Ministry of Energy of the Republic of Kazakhstan, KMG and China’s Sinopec signed a hydrocarbon exploration and production contract for the complex subsoil area of the Berezovsky block located in the West Kazakhstan Region.
- West Kazakhstan Region
- Project implemented on a 50/50 parity basis with carry financing
- Akkaiyn Operating LLP as the project operator
Prospects: the Berezovsky block’s potential is associated with subsalt formations of the northern marginal zone of the Caspian basin where targets are located at significant depths in a complex geological and technical environment.
In 2025, KMG completed drilling of two deep wells under the Turgai Palaeozoic project in the Kyzylorda Region and the Karaton Subsalt project in the Atyrau Region, with depths of 5,585 m and 5,750 m, respectively.
Based on drilling results at the Karaton Subsalt block (southern margin of the Caspian sedimentary basin), we identified promising intervals, which are scheduled for testing in 2026.
The Ministry of Energy of the Republic of Kazakhstan, KMG and China’s CNOOC signed a hydrocarbon exploration and production contract for the complex subsoil area of the Zhylyoi block located in the north-eastern part of the Caspian Sea. This is the first time CNOOC is making investments in the Republic of Kazakhstan.
- Atyrau Region
- Project implemented on a 50/50 parity basis with carry financing
- Zhylyoi Operating LLP as the project operator
Prospects: the Zhylyoi block is located in the transit zone of the north-eastern Caspian Sea, which poses certain technical challenges while also creating new opportunities for the application of advanced exploration and production technologies. The block’s potential is associated with suprasalt and subsalt formations of the southern marginal zone of the Caspian basin.
- Design capacity of 500 thous. tonnes of granulated polypropylene per year
- The facility produces 15 grades of polypropylene, including premium ones. Five grades from the product portfolio were not previously manufactured in Kazakhstan
- Project participants: KMG (49.5%),SIBUR Holding (40%),Samruk-Kazyna Ondeu (9.5%),Firm Almex Plus (1%)
- Construction began on the grounds of the National Industrial Petrochemical Technopark special economic zone in the Atyrau Region
- Silleno products will substitute some 90% of imported polyethylene grades
- Project participants: KMG (40%)Sinopec Overseas Investment Holding (30%)SIBUR Holding (30%)
- Some 8,000 new jobs at peak construction
- Approximately 800 permanent jobs following production launch
- Production launch is scheduled for 2029
- The planned product range comprises more than 20 polyethylene grades (with the premium segment accounting for 40%)
- Finished products will target both the domestic market and exports to the CIS, Europe, China, and Türkiye.
The system harnesses artificial intelligence to analyse video streams in real time, monitor compliance, and automatically notify security services of violations.
TUMAR, an automated smart system, ensures safety during hazardous operations in well services and workovers.
- TUMAR automatically detects violations and activates visual or audio alerts in the event of a threat.
- In total, nearly 15 thous. images were processed to train the models, with more than 183 thous. objects labelled across 16 classes.
Software incorporating predictive equipment failure analytics enables advance planning of maintenance operations and ensures uninterrupted production processes.
- The smart system comprises multiple independent modules designed to streamline processes in exploration, drilling, field development, and economic performance assessment.
- Advanced Base Artificial Intelligence (ABAI) is a full-scale big data project powered by artificial intelligence technologies.
- KMG Engineering, a wholly owned subsidiary of KMG, acts as the system developer.
- Stable generation of free cash flow.
- Liquidity hitting its highest level since 2018 (USD 6.2 bln).
- Balanced debt maturity profile.
- Net debt declining to a historic low of USD 742 mln.
- Low leverage providing sufficient borrowing capacity to implement major investment projects.
In 2025, KMG issued CNY-denominated bonds. The debut Dim Sum bonds were listed on the Hong Kong Stock Exchange and the Astana International Exchange, enhancing the Company’s visibility in international capital markets.
Issue details:
- coupon rate of 2.950%;
- yield of 3.150%;
- issue volume of CNY 1.25 bln;
- maturity period of 5 years.
Total demand reached approximately CNY 3.8 bln, reflecting strong investor interest and confidence in KMG’s credit quality.
“This issue is not merely a financial transaction, but a strategic move designed to diversify funding sources, broaden the investor base, and actively tap into Asian capital markets.”
Deputy Chairperson of the Management Board
KMG’s credit ratings are aligned with the sovereign ratings of the Republic of Kazakhstan.
Credit ratings: sovereign ratings of Kazakhstan, KMG
| Kazakhstan | Baa1 (Stable) | BBB- (Positive) | BBB (Stable) |
| KMG | Baa1 (Stable) | BBB- (Stable) | BBB (Stable) |
Kenderly plant: a new source of drinking water in Zhanaozen
KMG constructed a desalination plant 100 km away from Zhanaozen on the instruction of the President of Kazakhstan.
- One of the Company’s largest social infrastructure projects in the Mangistau Region
- Plant capacity of up to 50 thous. m3 per day
- Project implemented by Ak Su KMG, a subsidiary of Ozenmunaigas
A modern Schoolchildren Palace (Bolashaq Sarayi) opened in Zhanaozen
- Total area of over 3 thous. m3
- Capacity of 350 students at a time
- Designed for shift-based attendance of up to 1.5 thous. students
- Featuring modern educational and creative facilities
Kassym-Jomart Tokayev, President of Kazakhstan, designated 2025 as the Year of Working Professions. KMG was among the first companies in the country to support this initiative.
- More than 44 thous. blue-collar employees work at KMG’s production facilities
JanAru educational programme
As part of the Year of Working Professions and in support of the country’s gender policy, KMG launched an educational programme designed to help women pursue careers in blue-collar roles in the oil and gas industry.
The programme’s objective is to support the professional and personal development of women employed at production facilities.
- 47 participants
- 12 subsidiaries and associates
- Roles include the pumping station operator, reservoir pressure maintenance operator, oil and gas production operator, well testing operator, control panel operator, product-handling operator, chemical laboratory technician, electrician, and cook.
ALYP programme to foster professional development and lean culture
- 63 young talents proposed initiatives to improve production efficiency
- 13 subsidiaries and associates
- 49 projects implemented to enhance operational performance, HSE and digital processes
- Expected annual economic effect of around KZT 989 mln