1899
The first oil fountain hit from a 40-meter-deep well at the Karashungul field in the Atyrau region
1911
1st oil fountain in Dossor. Here commercial oil production began in Kazakhstan
1912
The first 60 km long oil pipeline Dossor-Rakushi-Caspiy was built, 16 km of them - along the bottom of the Caspian Sea
1915
The country's second field Makat gives its first oil
1932
For the first time not only in the USSR but also in Europe, oilmen of Emba mastered ultra-deep drilling (2500-2800 m)
1945
Plant No. 441 (current Atyrau Refinery) produced its first product - motor gasoline
1961
The first oil fountain at the Zhetybay field marked the discovery of an oil and gas province in Mangyshlak
1969
The Uzen-Atyrau oil pipeline with heating furnaces was commissioned, which allowed oil transportation at low temperatures
1978
A complex for primary oil refining with a capacity of 6 million tons per year was commissioned at the Pavlodar Petrochemical Plant, and the first gasoline was produced there
1979
The world's deepest Tengiz field was discovered (upper oil-bearing reservoir - at a depth of 4000 meters)
1979
One of the 20 largest fields in the world was discovered – Karachaganak field covering an area of more than 280 sq km
1983
Shymkent plant was constructed in the south of Kazakhstan
1993
A 40-year agreement on the creation of a joint venture Tengizchevroil between Kazakhstan and Chevron was concluded
1997
The national company «KazTransOil» was established. The total length of oil pipelines is over 5,000 km. It also provides fresh water supply through the world's longest water pipeline Astrakhan - Mangyshlak (more than 2000 km).
2000
The East-1 well was drilled on the Caspian shelf and the giant Kashagan field was discovered
2006
IPO of KazMunayGas EP JSC on the London Stock Exchange and the Kazakhstan Stock Exchange. KMG EP raised about $2 billion (the largest IPO among Kazakh companies at that time).
2012
KMG received 10% in the Karachaganak project. As part of the People's IPO, common shares of KazTransOil JSC were placed on the Kazakhstan Stock Exchange.
2018
A large-scale modernization of the three largest oil refineries completed
2019
The construction of the main gas pipeline Saryarka was completed, connecting Central Kazakhstan and the capital with a single gas transmission network of the Republic of Kazakhstan
2021
The first Kazakh jack-up drilling rig Satti went to sea. KMG transferred 100% of the shares of KazTransGas JSC in favor of Samruk-Kazyna JSC
2022
The KEBCO (Kazakhstan Export Blend Crude Oil) grade has been in effect since 6 June 2022: Kazakh oil exported via the Atyrau — Samara pipeline and loaded at Russian ports is sold under this name. The sales documents now state its Kazakh origin (previously the oil was sold as Urals and Siberian Light) — a measure needed for the market to distinguish Kazakh oil. S&P Global Platts has published separate KEBCO price assessments since 1 November 2022.
On 15 September, KMG exercised its buy-back right (call option) and bought from Samruk-Kazyna JSC a 50% stake in KMG Kashagan B.V. for USD 3.8 billion. The company owns 16.88% in the North Caspian Project (Kashagan); KMG now consolidates 100% of its shares.
President of Kazakhstan Kassym-Jomart Tokayev launched the Kazakhstan Petrochemical Industries Inc. (KPI) plant in the Atyrau region on 8 November — the first phase of the country's first integrated gas chemical complex. The plant is designed to produce 500,000 tons of polypropylene per year from propane of the Tengiz field.
From 9 November to 2 December, subscription for KMG shares took place on the Astana International Exchange (AIX) and the Kazakhstan Stock Exchange (KASE) as part of the People's IPO: 129,949 bids for KZT 181.5 billion were received at a price of KZT 8,406 per share. Samruk-Kazyna JSC sold 18,303,584 common shares — 3% of KMG shares — for KZT 153.9 billion; bids from Kazakhstani citizens were satisfied in full. Trading in the shares began on 8 December.
2025
At the Tengiz field, Tengizchevroil (TCO) completed the Future Growth Project (FGP) and the Wellhead Pressure Management Project (WPMP): the WPMP facilities were commissioned in April 2024, oil production at the new third-generation plant began on 24 January 2025, and the commissioning certificate for the facilities was signed in June. The increase in TCO's production is 12 million tons per year; KMG's share in TCO is 20%.
In spring, a major upgrade was completed at the Caspi Bitum plant in Aktau — a joint venture of KMG and CITIC Group that refines Karazhanbas oil and produces road bitumen. The crude distillation unit (CDU-VDU) was upgraded: oil refining capacity rose from 1 to 1.5 million tons per year, and bitumen output capacity rose from 500 to 750 thousand tons per year. The official launch took place on 5 May; investment in the project amounted to USD 76 million.
On 4 July, cumulative oil production at Kashagan reached 1 billion barrels since the field's start-up in 2016. KMG's share in the North Caspian Project is 16.88%.
At the end of 2025, Kazakhstan produced 99.4 million tons of oil and gas condensate. KMG's production of oil and gas condensate, including shares in joint ventures, grew by 10% to 26.2 million tons, and gas production grew by 20% to 11.4 billion cubic meters; the growth came mainly from the start-up of the third-generation plant at Tengiz (oil production attributable to KMG's share in TCO rose by 40.3% to 7,802 thousand tons).
At the end of 2025, KMG's Kazakh refineries set historic highs: the depth of refining at the three plants reached 90.1% (85.5% in 2023, 87.4% in 2024) and the yield of light petroleum products 77.7% (72.2% and 73.8%). In KMG's share, 14.7 million tons of feedstock were processed at the Kazakh plants and 21.0 million tons including the Romanian ones; 4.6 million tons of gasoline and 5.1 million tons of diesel fuel were produced.
2026
On 2 September, KMG placed Dim Sum bonds — yuan-denominated debt securities issued outside mainland China — worth CNY 3.5 billion on the Hong Kong Stock Exchange (5- and 10-year); the issue is rated Baa1 by Moody's. KMG's debut Dim Sum issue took place in October 2025 (CNY 1.25 billion).
The history of the Kazakh oil industry goes back more than 120 years
At the beginning of the 20th century, with the discoveries in the Guryev (now Atyrau) region, the whole world started talking about Kazakhstani oil.
Another impetus to development was given during the war years. The quality of the oil was so high that it was sent to the frontline as tanks gasoline without refining. By the end of the 40s, the production reached 1 million tons per year.
At the end of the 50s, active exploratory drilling and geological survey take place in the Mangistau region, and the 70s - in the Kyzylorda region.
The next stage in the history of Kazakhstani oil is the discovery of the supergiant fields Tengiz (reserves of over 1 billion tons of oil and gas condensate), Karachaganak (estimated resources - 1.35 trillion cubic meters of gas and 1.2 billion tons of oil and gas condensate), and Kashagan (reserves of about 4.8 billion tons of conventional fuel).
Another impetus to development was given during the war years. The quality of the oil was so high that it was sent to the frontline as tanks gasoline without refining. By the end of the 40s, the production reached 1 million tons per year.
At the end of the 50s, active exploratory drilling and geological survey take place in the Mangistau region, and the 70s - in the Kyzylorda region.
The next stage in the history of Kazakhstani oil is the discovery of the supergiant fields Tengiz (reserves of over 1 billion tons of oil and gas condensate), Karachaganak (estimated resources - 1.35 trillion cubic meters of gas and 1.2 billion tons of oil and gas condensate), and Kashagan (reserves of about 4.8 billion tons of conventional fuel).
The refineries of Kazakhstan are the technological avant-garde of the domestic industry.
The construction of the first oil refinery began during the Great Patriotic War. The plant was erected within two years based on complete equipment supplied from the USA under a lend-lease. The initial capacity was 800 thousand tons per year. The plant specialized in the production of aviation and motor gasoline, motor and boiler fuels from oil from the Emba field.
The second refinery was the Pavlodar petrochemical plant, its construction began in 1971. Built in the period from 1971 to 1978 according to the fuel version, the plant was technologically oriented to the processing of low-sulfur oil in Western Siberia.
The Shymkent Oil Refinery, built in 1985, is the newest of the three largest oil refineries in Kazakhstan. The design capacity is 6 million tons per year. The plant is operated by KMG jointly with CNPC.
The second refinery was the Pavlodar petrochemical plant, its construction began in 1971. Built in the period from 1971 to 1978 according to the fuel version, the plant was technologically oriented to the processing of low-sulfur oil in Western Siberia.
The Shymkent Oil Refinery, built in 1985, is the newest of the three largest oil refineries in Kazakhstan. The design capacity is 6 million tons per year. The plant is operated by KMG jointly with CNPC.
The development of oil production was the beginning of the oil pipeline industry.
The first oil pipeline on the territory of Kazakhstan Dossor-Rakushi-Caspian pipeline was built in 1912 by the Oil Producing and Trading JSC Emba
With the commissioning of plants in Pavlodar and Shymkent, main pipelines were built in the north and south of the country.
In 1997, the national oil transportation company KazTransOil was established. Today, the total length of the company's main oil pipelines is more than 5.3 thousand km.
With the intensive development of the Caspian shelf, the question arose of creating a state fleet. Having started almost from scratch and operating at first with a leased fleet along the Aktau-Makhachkala and Aktau-Baku routes, today the Kazmortransflot Maritime Shipping Company owns 23 vessels of various types.
With the commissioning of plants in Pavlodar and Shymkent, main pipelines were built in the north and south of the country.
In 1997, the national oil transportation company KazTransOil was established. Today, the total length of the company's main oil pipelines is more than 5.3 thousand km.
With the intensive development of the Caspian shelf, the question arose of creating a state fleet. Having started almost from scratch and operating at first with a leased fleet along the Aktau-Makhachkala and Aktau-Baku routes, today the Kazmortransflot Maritime Shipping Company owns 23 vessels of various types.
Creation of the main oil company of the country.
Joint Stock Company National Company «KazMunayGas» with 100% state share was established by way of the merger of «Kazakhoil» National Oil and Gas Company and «Oil and Gas Transportation» National Company pursuant to the Decree of the President of the Republic of Kazakhstan as of February 20, 2002.
The creation of a national operator in the oil and gas industry was conditioned to increase the level of ensuring the effective and transparent development of the oil and gas complex and protect the interests of the Republic of Kazakhstan in the oil and gas sector of the country's economy. Important historical milestones in the history of the national company and the oil and gas industry as a whole begin from this period.
The creation of a national operator in the oil and gas industry was conditioned to increase the level of ensuring the effective and transparent development of the oil and gas complex and protect the interests of the Republic of Kazakhstan in the oil and gas sector of the country's economy. Important historical milestones in the history of the national company and the oil and gas industry as a whole begin from this period.
The country's first integrated gas chemical complex.
In 2025, the KPI integrated gas chemical complex expanded its product range to 15 grades and produced 377 thousand tons of polypropylene, of which 326 thousand tons were exported to Europe, China, Turkey and Russia. Thanks to supplies to the domestic market, import dependence in Kazakhstan fell to 8%.
The development of petrochemicals, one of the key drivers of global oil demand, is a strategically important area for business diversification and for the production of competitive, high value-added products targeted at both domestic and foreign markets.
The development of petrochemicals, one of the key drivers of global oil demand, is a strategically important area for business diversification and for the production of competitive, high value-added products targeted at both domestic and foreign markets.