The Joint Stock Company “National Geological Exploration Company “Kazgeologiya” was established by the Government Resolution of the Republic of Kazakhstan dated of 21 June 2011 No 684 in execution of the Decree of the President at the extended session of the Government of the Republic of Kazakhstan of 17 April 2011.
The object of the Company is an effective development of Kazakhstan territory, creation of favorable living environment and new mineral raw material base for the fund of future generations, as well as ensuring realization of economic and geopolitical interests of the country in Kazakhstan sector of the Caspian Sea shelf.
The company’s 100% equity, owned by the Joint Stock Company Sovereign Wealth Fund “Samruk-Kazyna” (hereinafter – Samruk-Kazyna JSC, the Fund) is transferred in trust to the Ministry of Industry and New Technologies of the Republic of Kazakhstan.
In December 2012 the new Strategy for development of the National Geological Exploration Company “Kazgeologiya” JSC until 2022 (hereinafter – the Strategy) was approved and developed in pursuance of the Strategic Development Plan of the Republic of Kazakhstan till 2020, the Concept of Geological Sector Development of Kazakhstan till 2030, the State Program of Forced Industrial-Innovative Development for 2010-2014, and the Program for the Development of Mineral Resources Sector for 2010-2014 (Government Regulation of 31 December 2010 No 1530).
The basis for adjustment of the Strategy of Kazgeologiya was the adoption of the Concept of Geological Sector Development of the Republic of Kazakhstan till 2030 (Government Regulation of 13 August 2012 No 1042), as well as the existing Program for the Oil and Gas Sector Development of the Republic of Kazakhstan for 2010-2014 (Government Regulation of 18 October 2010 No 1072), the Chemical Industry Development of the Republic of Kazakhstan for 2010 – 2014 (Government Regulation of 30 September 2010 No 1001), and the Development of Mining Industry in the Republic of Kazakhstan for 2010 – 2014 (Government Regulation of 30 October 2010 No 1144).
This Strategy defines the mission, perspective and long term strategic goals of Kazgeologiya. The mission is the successful achievement of objectives, and the established key performance indicators are the indicators of their accomplishability. Generally the Company operations will positively affect the Kazakhstan economy resulting in recovery of approved reserves and resources against already produced ones, as well as providing Kazakhstan economy with mineral resources.
The core areas of the Company operation are:
1. Geological exploration including: regional geological surveys; exploration of all kinds of mineral resources (solid minerals, uranium, hydrocarbon crude, underground water); prospecting and evaluation works on all kinds of mineral resources; and underground water exploration.
2. Research, development and methodological and development engineering works in part of geology.
4. Drilling of solid minerals and underground water wells.
5. Drilling of hydrocarbon crude key wells.
7. Planning of range of exploration works.
8. Laboratory and analytical investigations.
9. Economic-geological evaluation of mineral deposits, the development of feasibility study of mineral deposits exploitation conditions and the reserves estimation.
10. Creation of electronic database based on the results of exploration works.
11. Other activities not prohibited by the legislation of the Republic of Kazakhstan.