KazMunayGas has smooth schedule to repay debt that was nearly $8.4 bln in first half of year - company head

ASTANA. Nov 16 (Interfax) - Kazakhstan's KazMunayGas (KMG) oil and gas company has a smooth schedule for repaying debt that totals nearly $8.4 billion, Magzum Mirzagaliyev, KMG executive board chairman, said on Wednesday at a press conference in Astana.

"The total debt of our company as of June 30, or, in other words, according to the results of the first half of 2022, is, speaking in dollars, 8.366 billion," Mirzagaliyev said at the press conference, adding that, "We have a fairly smooth, easy repayment schedule for our debts to investors."

Mirzagaliev recalled that the company's debt had reached $19 billion in 2014.

"In general, it should be noted that our debt is consistently declining," Mirzagaliyev said.

KazMunayGas is Kazakhstan's national operator for exploring, producing, processing and transporting hydrocarbons, and it represents the government's interests in the oil and gas industry. The Samruk-Kazyna state fund owns 90.42% of the shares, and the National Bank of Kazakhstan owns 9.58%.