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KazMunaiGas cut a quarter of managerial jobs

18 march 2012, 16:07
KazMunaiGas headquarters. Photo by Danial Okassov©
KazMunaiGas headquarters. Photo by Danial Okassov©
KazMunaiGas National Oil Company has axed 23 percent of its managerial personnel, KazTAG reports citing a message of Samruk-Kazyna National Welfare Fund.

KazMunaiGas board meeting was held on Thursday, March 15. The meeting covered several issues. According to head of KMG Lyazzat Kiinov, the managerial personnel of the company has been reduced by 23 percent.

"According to Kiinov, the overall number of administrative and managerial personnel of KMG has been decreased by 23 percent as part of the ongoing optimization. This work is still in process," the fund's message states.

Besides, the meeting included a report of the chairman of Samruk-Kazyna Umirzak Shukeyev on key changes in the company's activities in the last month. In particular, he informed the board members of the dynamics of the key efficiency indicators in different areas of KMG's production activities.

Shukeyev said that optimization of the organizational structure of KMG helped enhance the part of the company accountable for oil and gas exploration and activate the company's key business-directions of transportation, oil and gas processing, and petrochemical development.

"The optimization included elimination of duplication of authorities, increase of liability of the managers for performance of their tasks," he noted.

The board made a decision to create a work group on restructuring KazMunaiGas group of companies. "We need to select 5 or 6 key business-directions. All the non-core assets not falling into the selected categories have to be transferred into the competitive environment or cut," Shukeyev said in this relation.

Besides, the board approved creation of a board commission on directions and remunerations and a ommission on strategy and innovations.

KazMunaiGas is Kazakhstan national operator on exploration, production, processing and transportation of hydrocarbons that represents the state interests in oil and gas industry of Kazakhstan. KMG is 100 percent owned by Samruk-Kazyna National Welfare Fund.

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