07.02.2019
JSC NC KazMunayGas Board of Directors approves a new organisational structure
JSC NC KazMunayGas (the “Company”) advises that the session of the Board of Directors from 6 February 2019 adopted a decision to change the organisational structure of the Company and delimit management processes in the following key business sectors:
- geology and exploration,
- production,
- oil production and marketing,
- oil transportation, international projects and Saryarka Gas Pipeline Construction.
The new structure removes the position of Deputy Chairman of the Management Board for Exploration, Production and Oil Services and replaces it with the positions of Deputy Chairman of the Management Board for Production and the Deputy Chairman for Geology and Exploration. The position of Deputy Chairman of the Management Board for Oil Transportation, Refining and Marketing has been replaced by the positions of Deputy Chairman of the Management Board for Oil Refining and Marketing and Deputy Chairman of the Management Board for Oil Transportation, International Projects and Saryarka Gas Pipeline Construction. In addition, the position of Managing Director of Mangistaumunaigaz and Ozenmunaigas has been abolished.
For this reason, the following professionals in the corresponding sectors have been appointed to oversee the development of the key business sectors from 7 February 2019:
- Kurmangazy Oryngaziyevich Iskaziyev has been appointed Deputy Chairman of the Management Board for Geology and Exploration. Mr Iskaziyev will be responsible for expanding the resource base and the effective management of subsidiary reserves;
- Daniyar Suinslikovich Tiyessov has been appointed Deputy Chairman of the Management Board for Oil Refining and Marketing, and will be responsible for the execution of key performance indicators;
- Daniyar Amirbayevich Berlibayev has been appointed Deputy Chairman of the Management Board for Oil Transportation, International Projects and Saryarka Gas Pipeline Construction.
In his new position, he will be responsible for oil exports and transportation, further oil refining in export markets, maximising value for the Company and realising the strategic Saryarka gasification project.
From 11 February 2019, Zhakyp Nasibkaliyevich Marabayev was appointed Deputy Chairman of the Management Board for Production. He will be responsible for meeting oil and gas production plans, and improving production performance.
The new organisational structure should increase JSC NC KazMunayGas production performance and corporate governance, improve the speed of the decision-making process and interaction between the Company central office and subsidiaries.
The Company notes that the changes in question will have no financial impact on payroll.