KazMunayGas and Citi seek to expand partnership

Photo: KazMunayGas

BAKU, Azerbaijan, October 21. Chairman of the Management Board of KazMunayGas (KMG) Askhat Khassenov met with Karim Tannir, Head of Citi's Middle East and Africa business, in Astana to discuss prospects for strengthening cooperation between the two sides, according to KMG.

The discussions focused on building on the 15-year history of cooperation between KMG and Citi in attracting investment and providing treasury and banking services.

Citi participated in organizing KMG's Dim Sum bond issuance as part of the company's efforts to access international capital markets. Expanding its presence in the Chinese market is also among KMG's priorities.

Following the meeting, the parties expressed their readiness to further develop their partnership and implement new joint projects.

KazMunayGas is Kazakhstan's leading vertically integrated oil and gas company, with operations covering the entire production cycle, from hydrocarbon exploration and production to transportation, refining and specialized services. Established in 2002, KMG represents Kazakhstan's interests in the country's oil and gas industry.

In the first half of 2026, KMG produced 12.437 million tons of oil and gas condensate, compared with 13.043 million tons in the same period of 2025. The company's oil transportation volumes increased by 4.0% year-on-year to 43.280 million tons.

Citi is an international financial institution founded in New York in 1812. It is part of Citigroup, an international financial services corporation. The bank operates in nearly 100 countries.