Entity

Atyrau Refinery LLP, operating under its widely used Russian acronym ANPZ (Атырауский Нефтеперерабатывающий Завод), is one of Kazakhstan's three principal oil refining entities and holds the distinction of being the oldest operating refinery in the country, having been commissioned in September 1945. It is incorporated as a Limited Liability Partnership (LLP / ТОО) under Kazakhstani law and is registered in the city of Atyrau, western Kazakhstan — the country's principal oil industry hub on the eastern shore of the Caspian Sea.

The company is a wholly owned subsidiary within the KazMunayGas (KMG) Group, with 99% of participatory shares held by KazMunayGas Refining and Marketing JSC (KMG R&M). The remaining minority stake has historically been held by small institutional or employee shareholders, though the effective management and governance of the entity is entirely within the KMG Group structure.

Historical Background

The Atyrau Refinery was constructed under exceptional wartime conditions during World War II (the Great Patriotic War) and brought on stream in September 1945, built on the basis of a complete set of refining equipment supplied from the United States under the Lend-Lease programme. This origin gives the Atyrau Refinery a unique place in Kazakhstan's industrial heritage as the country's founding downstream facility, built specifically to process crude from the Emba oil fields of western Kazakhstan — one of the earliest-developed oil-producing regions in the former Soviet Union.

Following independence and the creation of KazMunayGas in 2002, the refinery was progressively brought under the KMG Group's consolidated downstream structure via KMG R&M, which is recorded as its direct owner.

Corporate Parentage and Ownership Chain

ANPZ LLP sits within the same ownership chain as its sister refinery PNHZ, and occupies the same structural position within the KMG Group:

• Direct shareholder: KazMunayGas Refining and Marketing JSC (KMG R&M) — 99%

• Intermediate parent: National Company KazMunayGas JSC (listed: KASE: KMGZ / AIX: KMG)

• Ultimate controlling shareholder: Sovereign Wealth Fund Samruk-Kazyna JSC, acting on behalf of the Republic of Kazakhstan

The remaining ~1% minority participatory interest is publicly referenced but its current holder is not prominently disclosed in available corporate filings.

Unique Industrial Position

ANPZ LLP holds a strategically differentiated position within the KMG refining portfolio that distinguishes it from the other two refineries. It is the only refinery in Kazakhstan with an integrated aromatics production complex, making it the sole domestic manufacturer of petrochemical products — specifically paraxylene (PX) and benzene — in addition to the standard slate of petroleum fuels. This gives the Atyrau Refinery a hybrid fuel-petrochemical profile, placing it closer in character to an integrated refinery-petrochemical complex than the purely fuel-oriented PNHZ and PKOP facilities.

This aromatics capability is strategically significant in the context of Kazakhstan's national petrochemical development ambitions, as paraxylene is the primary feedstock for purified terephthalic acid (PTA) and, ultimately, polyester (PET) production — a value chain Kazakhstan has been seeking to develop domestically.

Workforce and Scale

ANPZ LLP employs a workforce of 5,001 to 10,000 employees at its single operating site in Atyrau, making it one of the largest single-site industrial employers in the Atyrau Oblast. The company is recognised as one of the largest taxpayers in the Atyrau region, reflecting its scale within the regional economy.