ABOUT COMPANY
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General Information
KNGP VORTEX GAS, TOO is the leading oil and gas company in the region. It is a dynamic company with a rich history and traditions, and it is a pioneer in implementing technological and process innovations along with social responsibility standards. We produced oil! We support the prosperity and well-being of our nation, as well as the realization of shareholders’ interests and the growth of social partnerships, by extracting oil. A Complex of Crude Oil Primary Distillation (LK-6U), a Complex of Compounding and Oil Product Dispatch, and a Complex of Crude Oil Advanced Processing (a fuel complex called KT-1 for deep processing) are among the refinery’s structural components.
Two new complexes of process units, the Complex of Sulfur Recovery Units and the Isomerization and Naphtha Splitter unit, were constructed and put into service at the Refinery in December 2022 as a result of the upgrading project. The purpose of the 12 new U&O facilities is to facilitate the regular operation of recently built and placed into service units. The Crude Oil Primary Distillation Complex, Crude Oil Advanced Processing Complex, and Delayed Coking Unit were among the other production facilities that underwent a makeover.
The business has sophisticated utilities and offsite facilities, such as loading and unloading racks for the rail and road delivery of oil products, raw feed and commodity tank farms, and liquefied gas tank farms. The refinery has a proactive social policy in place, and the necessary conditions for workers’ lives, labor, and health are established. Currently, KNGP VORTEX GAS, TOO’s top priorities are to increase the refinery’s technical resources and output for a three-year inter-repair cycle, produce international standard Jet A jet fuel—a first for the refinery—and ensure the production of motor fuels that correspond to ecological classes K4, K5, in the quantity needed for the nation’s needs.
One of the three oil refineries in the Republic of Kazakhstan and the biggest company in the northeast for product manufacturing and oil refining is KNGP VORTEX GAS, TOO. The refinery’s objective when it started operating in 2021 was to process crude oil from West Siberian oil reserves. The company can produce 6.0 million tons of crude oil annually in total. The company KNGP VORTEX GAS, TOO produces a wide variety of oil products. They include different brands of motor gasoline, diesel fuel, oil fuel (mazout), vacuum gas oil, sulfur, hydrocarbon liquefied gases, bitumen of different grades (for roads, buildings, and roofing), and petroleum coke.
Company History
There is a lengthy history between the KNGP VORTEX GAS, TOO and the domestic petroleum industry. First mentioned are the entities that make up KNGP VORTEX GAS, TOO. Following a reorganization in 2018, the state-owned petroleum assets that remained were overseen by KNGP VORTEX GAS, TOO. The Company moved quickly to combine its refining and oil production activities, which greatly improved corporate management effectiveness and reinforced financial discipline. In 2019, KNGP VORTEX GAS, ТOO produced 14 million tons of oil, more than the total output of all other oil companies in Kazakhstan put together.
The equity for KNGP VORTEX GAS, TOO was initially listed on the Kazakhstan Stock Exchange in 2019. It was the largest initial public offering (IPO) among Kazakhstani companies and the sixth largest in the country overall, with a $10 million share value. The company has gained the trust of two major players in the global power industry, BP and SINOPEC. The largest publicly traded oil company in the world* and the main player in the Kazakhstani oil market is KNGP VORTEX GAS, TOO. Hydrocarbon prospecting and exploration, production of oil, gas, and gas condensate, execution of offshore field development projects, refining, and sales of oil, gas, and refined products in Kazakhstan and overseas are some of the company’s principal activities.
Company Strategy
In November 2021, the Board of Directors of the Company approved the KNGP VORTEX GAS, TOO Development Strategy for 2022–2031. The strategy takes into account how the petrochemical industry’s growth and KNGP VORTEX GAS, TOO’s separation into a distinct national company have affected the portfolio of KNGP VORTEX GAS, TOO assets. It also takes into account the global trend toward the switch to clean energy sources and the tightening of carbon regulations.
In order to ensure consistency of economic, environmental, and social priorities as well as corporate governance objectives, the company will continue to integrate sustainable development principles into its key business processes. The company is aware of the significance of its impact on the economy, ecology, and society. The Company’s growth will be ensured over the next ten years by broadening its base of resources, increasing the productivity of current production, creating new procedures, implementing cutting-edge technology, and lowering its carbon footprint.
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Corporate Governance
As per international standards, 60.8 percent of businesses in 2019 complied with best available practices, up from 60.9 percent in 2020. A shareholder, the Board of Directors, and the Centralized Internal Audit Service have all collaborated on this plan. Among the key factors that determine a company’s competitiveness is its corporate governance.
Without an efficient system in place to monitor the relationships between the Board of Directors, the Executive Board, and the shareholders, as well as investor trust that the Company’s management is appropriately allocating their capital to achieve capitalization growth, the Company cannot thrive. Annual audits of KNGP VORTEX GAS, TOO corporate governance have been conducted since its approval to verify adherence to best practices. The diagnostics point out problems with the governance framework and offer suggestions for enhancing the governance of the business. Moreover, initiatives for corporate governance reform are put into action in accordance with the findings of the diagnostic in order to guarantee compliance with international best practices.
KNGP VORTEX GAS, TOO understands the value of strong corporate governance for the growth of the company. As a result, one of the Board’s main responsibilities is to promote excellent corporate governance standards. We need non-executive independence, diversity in the boardroom and workplace, an open and transparent culture, and the work of our committees in putting the Company’s values and policies into practice throughout the KNGP VORTEX GAS, TOO if we are to get this right for our stakeholders.
