What Karazhanbasmunai does

Karazhanbasmunai JSC is a Kazakh Joint Stock Company that extracts, processes, and sells heavy crude oil from the Karazhanbas field on the northern Buzachi peninsula in Mangystau Oblast. Discovered in 1974 and described as the largest shallow high-viscosity oil field in the CIS, the field contributes roughly 12% of regional and 2.5% of national Kazakh oil output, with 2024 production of 2,153,800 tons and sales realization of 2,075,000 tons. Core output includes road bitumen (242,000 tons/year supplied to the domestic market) and crude exported through the KazMunayGas group. The company employs steam-thermal stimulation for enhanced oil recovery from high-viscosity, high-sulfur crude, supported by 335 steam injection well cells (a legacy of its nearly two-decade partnership with CITIC Resources) and a daily steam injection volume of 16,800 tons.

The business is operated under a joint ownership model between KazMunayGas, the state-owned national oil company, and CITIC Resources of China, with top-executive parity rotation every five years codified in a shareholder agreement. Proprietary and operational technology includes intelligent beam pumping units that cut motor power from 22 kW to 7.5 kW, electromagnetic-wave seismic exploration that replaces explosive sources, a formation water desalination plant producing up to 17,000 m3/day, the ABAI AI-driven production optimization system, the TUMAR video-analytics safety system, and surfactant-polymer flooding pilots targeting up to 30% improvement in oil displacement. The company holds ISO 9001, 14001, and 45001 certifications and won Samruk-Kazyna's 2025 'Leader of Production Innovations' award.

Karazhanbasmunai generates revenue by selling heavy crude and bitumen on a B2B basis through the KazMunayGas distribution network to domestic refiners/road builders and to export markets; pricing is not publicly disclosed. Customer concentration is moderate because domestic bitumen offtake is a single defined segment while export volumes flow through diversified KMG channels. Recent strategic activity is focused on reserves replenishment (Coastal Zone drilling campaign adding up to 3 million tons of recoverable reserves), digitalization, and leadership renewal, with a new General Director appointed in March 2026.

Name

Karazhanbasmunai

Legal name

«Қаражанбасмұнай» акционерлік қоғамы

Website

https://kbm.kz

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Karazhanbasmunai is a Kazakh oil producer extracting heavy crude from the Karazhanbas field on the Buzachi peninsula, selling crude and road bitumen domestically and exporting through the state-owned KazMunayGas group under a long-running partnership with China's CITIC Resources.

Ownership category

akta.pro rank

Product category

Oil and gas production

NAICS

Crude Petroleum Extraction (211120), Oil and Gas Extraction (2111), Petroleum and Coal Products Manufacturing (3241)

SIC

Crude Petroleum & Natural Gas (1311), Miscellaneous Products Of Petroleum & Coal (2990)

akta.pro primary industry

Oilfield & Refining Specialty Chemicals (IMAEABAI)

akta.pro secondary industries

Industrial & Waterproofing Bitumen Products (Roofing, Membranes, Shingles, Sealants) (EUALAKAF), Sour Gas / Acid Gas (H2S/CO2-Rich) Gathering Systems (TLAGAJAE)

Keywords

• Heavy oil extraction
• Bitumen production
• Enhanced oil recovery
• Steam injection operations
• Oilfield services

Headquarters

HQ city

Aktau

HQ country

Kazakhstan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Oil production and sales: Extraction and sale of heavy crude oil from Karazhanbas field; oil is suitable for road bitumen production
2. Bitumen supply to domestic market: 242 thousand tons of bitumen supplied annually to Kazakhstan domestic market

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Karazhanbasmunai extracts heavy, high-viscosity, high-sulfur crude oil from the Karazhanbas field in Mangystau Oblast, Kazakhstan, using steam-thermal stimulation and related enhanced oil recovery methods, with annual production exceeding 2 million tons. It processes and sells this crude as feedstock for road bitumen production, supplying approximately 242,000 tons of bitumen annually to the domestic Kazakhstan market, and also markets crude oil internationally through the KazMunayGas group structure.

Product overview

Karazhanbasmunai is an oil company engaged in heavy oil extraction and processing from the Karazhanbas oil field in Mangistau Oblast, Kazakhstan. The company's core products include crude oil production (over 2 million tons annually) and road bitumen manufacturing. The company employs steam injection technology for enhanced recovery of high-viscosity, high-sulfur crude oil. Supporting operations include a formation water desalination plant producing fresh water for regional needs. The company also develops proprietary digital technologies including the ABAI information system with AI algorithms for production optimization, the TUMAR video analytics system for safety monitoring, and digital well monitoring solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• Heavy Crude Oil Extraction of heavy, high-viscosity, high-sulfur crude oil from the Karazhanbas field using steam-thermal stimulation enhanced oil recovery; annual production exceeds 2 million tons. Sold B2B to refining and bitumen-producing customers, with exports via KazMunayGas channels.
• Road Bitumen Road bitumen produced from Karazhanbas crude, supplied at approximately 242,000 tons annually to the Kazakhstan domestic market for use as road-construction binder.
• Formation Water Desalination Industrial-scale desalination of formation water co-produced with the oil, producing 13,000–17,000 cubic meters of fresh water per day and freeing Astrakhan-Mangyshlak pipeline capacity for regional population use.

Quantifiable outcome

• Oil production increased by 100,800 tons in 2024 compared to 2023
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature6 records

Partnerships

Two partnerships are on record, tiered core and minor.

• CITIC Group / CITIC ResourcescoreStrategic or Co-development Partner · 1 January 2007CITIC Resources, part of CITIC Group, has been a shareholder of Karazhanbasmunai for nearly 20 years. Chinese specialists have been working at the Karazhanbas field since 2007, implementing joint technologies and production development. Joint work resulted in formation of 335 steam injection well cells with annual production reaching 1.32 million tons.
• Yntymaq (Ынтымақ) - Industry Professional UnionminorOthersKazakhstan Industry Professional Union representing oil sector workers. Awards 'Eren enbegi üşin' (For Meritorious Labor) badges to workers on professional holidays.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• KazMunayGas: Kazakhstan's national oil and gas company and parent of Karazhanbasmunai. Comparable as the broad incumbent across upstream, midstream and downstream oil in Kazakhstan and as KBM's parent and offtake channel.
• CNOOC Limited: Chinese state-owned offshore and unconventional oil major. Comparable as a large state-owned Chinese oil and gas operator with cross-border upstream exposure and heavy-oil/EOR experience relevant to KBM's technology profile.

Emerging players

• CITIC Resources: Hong Kong-listed arm of Chinese SOE CITIC Group and a long-standing ~20% shareholder of Karazhanbasmunai. Comparable as the foreign strategic partner with operational involvement in the Karazhanbas field.

Direct peers

• Turgai-Petroleum: KazMunayGas group oil producer operating in Kazakhstan. Comparable upstream KMG subsidiary with similar fiscal and offtake framework as Karazhanbasmunai.
• Mangistaumunaigas (MMG): KazMunayGas subsidiary operating oil and gas production in Mangystau Oblast, Kazakhstan. Direct peer sharing the same parent, geography and heavy-oil production focus as Karazhanbasmunai.
• Embamunaigas: KazMunayGas subsidiary engaged in oil and gas production in Kazakhstan. Comparable as a KMG-operated upstream operator with similar regulatory and offtake structure.
• CNPC-Aktobemunaigas: Chinese-Kazakh joint venture oil producer in Kazakhstan. Comparable to KBM in JV structure (Chinese SOE + Kazakh state-aligned partner) and upstream oil production focus.
• Ozenmunaigas: KazMunayGas subsidiary and major onshore oil producer in Mangystau Oblast, Kazakhstan. Closely comparable to KBM as a KMG group heavy-oil operator in the same region.
• PetroKazakhstan Kumkol Resources: Kazakhstan-focused oil producer with operations centered on the Kumkol field. Comparable upstream operator in Kazakhstan with similar export-oriented crude production model.

Regional players

• Buzachi Operating: Independent operator active in the Buzachi Peninsula, Mangystau Oblast, where KBM's Karazhanbas field is located. Directly comparable as a regional heavy-oil producer on neighboring acreage.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/karazhanbasmunai

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 Karazhanbasmunai