Mangistaumunaigas

What Mangistaumunaigas does

Mangistaumunaigas JSC (Маңғыстаумұнайгаз) is a Kazakhstan-based publicly traded oil and gas company, listed on the Kazakhstan Stock Exchange (KASE) under ticker MMGZ and headquartered in Aktau, Mangystau region. The company is a subsidiary of KazMunayGas, the national oil and gas company of Kazakhstan, which itself sits under the Samruk-Kazyna sovereign wealth fund. MMG accounts for over 31% of Mangystau regional oil production and approximately 8% of Kazakhstan's national oil output, with Kalamkas and Zhetybay fields accounting for nearly 90% of recoverable reserves. It is one of the top three largest taxpayers in Kazakhstan and the largest taxpayer in the Mangystau region.

The company's operations are centered on hydrocarbon extraction from mature fields, with production units operating at Kalamkas, Zhetybay, Vostochny Zhetybay, Asar, and Karamkas via wholly-owned production subsidiaries. Its underlying technology base includes enhanced oil recovery techniques (polymer flooding, water inflow control / ОПИ ОВП, flow-diverting technology / ОПИ ПОТ) developed with engineering subsidiary KMG Engineering, alongside AI-based digital transformation initiatives and the KoBO Field Management Center deployed at the Zhetybay production unit to centralize production data. Supporting digital systems include the AVR+ online procurement platform and the E-QAZYNA electronic trading platform for asset sales and tenders.

MMG generates revenue through the extraction and sale of crude oil and associated petroleum products via B2B long-term supply arrangements, distributed across domestic refinery and industrial channels within Kazakhstan and export channels through Caspian Sea-region pipeline infrastructure. Operational partners include KazMunayGas (parent), the Ministry of Energy of Kazakhstan, Munaily Meken, Oil Construction Company, Oil Services Company, Mangistauehnergomunay, Munaitelecom, KASE, KMG Engineering, and Ozenmunaigas. Pricing is not publicly disclosed, consistent with negotiated contract terms typical of state-aligned offtake counterparties.

Name

Mangistaumunaigas

Legal name

«Маңғыстаумұнайгаз» АҚ

Website

http://www.mmg.kz

Company type

Public

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Mangistaumunaigas JSC (KASE: MMGZ) is a Kazakhstan-based publicly traded oil and gas company and subsidiary of KazMunayGas, producing over 31% of Mangystau regional and ~8% of national oil output from the Kalamkas and Zhetybay fields, supplying domestic refineries and Caspian export channels.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Production

NAICS

Crude Petroleum Extraction (211120), Oil and Gas Extraction (2111)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Field Development & EOR/IOR for Gas (Compression, Refracturing, Reservoir Management) (EUAAAAAM)

akta.pro secondary industry

Oil & Gas Water Treatment & Production Chemicals (IMAEAJAI)

Keywords

• Oil and gas production
• Hydrocarbon exploration
• Enhanced oil recovery
• Crude oil extraction
• Upstream petroleum operations

Headquarters

HQ city

Aktau

HQ country

Kazakhstan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Oil and Gas Production and Sales: Extraction and sale of crude oil and associated petroleum products from oil fields in the Mangystau region

Distribution channels2 records

Marketing channels3 records

Core offering

Mangistaumunaigas is a major oil and gas exploration and production company operating primarily in the Mangystau region of Kazakhstan. The company extracts crude oil and associated petroleum products from its main producing fields (Kalamkas and Zhetybay), which together account for nearly 90% of its recoverable reserves, and sells crude oil to domestic refineries and export markets. It applies enhanced oil recovery technologies such as polymer flooding, water inflow control, and flow-diverting technology to optimize extraction from mature fields.

Product overview

Mangistaumunaigas (Маңғыстаумұнайгаз) АО is a major Kazakh oil and gas production company that accounts for over 31% of the Mangystau region's oil production and approximately 8% of Kazakhstan's total oil output. The company's core operations center on oil and gas extraction from its main producing fields — Kalamkas and Zhetybay, which together account for nearly 90% of all recoverable reserves. The product portfolio includes primary production operations, supporting infrastructure such as the Asar field substation, and digital systems including the AVR+ online procurement platform and the E-QAZYNA electronic trading platform for asset sales and tenders. The company also provides polymer selection services for enhanced oil recovery at its fields.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Drilling two appraisal wells exceeding 3,000 meters depth to add more than 500,000 tons of oil resources

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered core and major.

• Ministry of Energy of the Republic of KazakhstancoreOthersGovernment regulatory body overseeing the energy sector in Kazakhstan. Provides regulatory oversight and policy direction for oil and gas operations.
• KMG Engineering (КазНИПИмунайгаз)majorImplementation/ SI/ Consulting PartnerResearch and engineering subsidiary providing laboratory services, polymer testing, and technical expertise for enhanced oil recovery projects including polymer selection for Kalankas field.
• OzenmunaigasmajorStrategic or Co-development PartnerKazMunayGas subsidiary in Mangystau region. Strategy discussions and coordinated production targets between subsidiaries under joint parent company direction.

Scale indicators7 records

Recent moves6 records

Expansion highlights8 records

Broad incumbents

• KazMunayGas: National oil company of Kazakhstan and parent of MMG. Operates the full upstream-to-downstream value chain including exploration, production, refining, and transportation, providing a directly comparable upstream portfolio and corporate governance model.

Direct peers

• Ozenmunaigas: KMG subsidiary also operating in the Mangystau region with overlapping upstream oil production operations. Sister company to MMG with similar operating model, regional tax-base role, and growth targets (e.g., 5.9 million tons/year by 2030).
• Karazhanbasmunay: Kazakhstan-based upstream oil producer operating the Karazhanbas field in the Mangystau region. Directly comparable onshore mature-field oil producer with similar EOR and brownfield development profile.
• KazMunayGas Exploration & Production: KMG's listed E&P arm with mature onshore fields in western Kazakhstan. Closely comparable in terms of asset type, technology use, and parent-company governance.
• PetroKazakhstan: CNPC-controlled upstream and refining operator in Kazakhstan with producing assets in the Kyzylorda region. Comparable mid-size national oil producer under foreign-majority ownership structure.
• CNPC-Aktobemunaigas: CNPC subsidiary operating producing oil fields in the Aktobe region of Kazakhstan. Comparable onshore upstream oil producer under similar state-aligned, foreign partner-influenced operating model.
• Embamunaygas: Kazakhstan-based national oil producer operating in western Kazakhstan with a portfolio of mature onshore fields. Comparable in asset type, scale, and operating geography.
• Buzachi Operating: Operator of the Buzachi oil field in the Mangystau region. Directly comparable onshore oil producer sharing MMG's regional operating base and producing-asset profile.

Regional players

• LUKOIL Overseas (Kazakhstan): International arm of LUKOIL with upstream operations in Kazakhstan (Caspian/Caspian-region joint ventures). Comparable as a foreign-major IOC operating onshore and offshore oil assets in the same country.

Others

• KMG Engineering (KazNIPImunaigas): KMG's research and engineering subsidiary providing laboratory, polymer testing, and EOR technical services to MMG and other KMG subsidiaries. Comparable as an ecosystem participant enabling MMG's EOR programme.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCdmvhICuKwq3qNXrjY-Ah6w
• Facebookfacebook.com/mmgpress
• Instagraminstagram.com/mangistaumunaigaz_jsc
• LinkedInlinkedin.com/company/jsc-mangistaumunaigas

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mangistaumunaigas