Risk management system

The KazMunayGas group of companies undertakes to fully comply with all statutory regulations, policies and standards, applicable to our operations.

We are making big efforts to identify potential risks related to our operations, and take all reasonable steps to address them. KazMunayGas has created a separate structural subdivision (department) for risk management, the Risk Committee under the Management Board and the Audit Committee under the Board of Directors. The Policy on the Enterprise Risk Management System in the KazMunayGas Group of Companies, risk map and register, and policies on managing financial risks are in place.

The Board of Directors considers on a quarterly basis the company's risk reports, revises and approves KazMunayGas' risk appetite and the level of tolerance  of every key risk of KazMunayGas.