“JV “Kazgermunai” LLP is one of the largest companies in oil production industry of Kazakhstan. The company carries out its activity in exploration, development, production and sale of hydrocarbon materials at Akshabulak, Nuraly and Aksai deposits of the South Turgai hollow of Kyzylorda area.
In 1993 the foundation agreement, which has initiated the establishment of “JV “KazGerMunai” LLP has been signed between JSC "Uzhneftegas" and group of the German companies (Feba Oil AG and Erbdol Erdgras Gommern GmbH) with the assistance of the government of Kazakhstan. The deposits “Akshabulak”,”Nuraly” and “Aksai” have been transferred to the Partnership for development. The specialists of the company have immediately started the geology-prospecting works, including seismic survey and drilling of the wells. As a result of such operations, five commercial oil and gas deposits: “Central Akshabulak”, “Southern Akshabulak”, “Eastern Akshabulak“, “Nuraly” and “Aksai” were identified.
The following development stage of the company has come in 1996, when «PetroKazakhstan Inc.», according to the earlier signed agreement on privatisation with the Management of the Republic of Kazakhstan, has acquired JSC “Uzhneftegas” along with 50 % shares in two joint ventures: «KazGerMunay» and «Turgay Petroleum».
In 2006 50 % of the shareholding of «KazGerMunai» has been redeemed by National Company “KazMunayGas”.