Kazakh oil companies increase salary of their employees with corrected tenge exchange rate

Three oil companies operating in Kazakhstan – Sauts Oil, Maten Petroleum and Tengizchevroil - have recently announced their plans to increase salary of their employees by 10%.

“The company considers its duty to respond to president’s appeal and increase salary of its employees by 10% in April 2014,” said Serikzhan Seitzhanov, President of Sauts Oil company. “We believe that creation of good conditions for the company employees will allow them giving more of their experience and strength for growth of the company.”

Sauts Oil reported that at present the company’s staff, which started to work in 2003, numbers 823 employees.

Maten Petroleum administration has also decided to increase salary of its employees by 10% from April 1, 2014. At present Maten Petroleum numbers about 430 employees, of which about 80% are involved in production. 

In the middle of 2013 the company has conducted indexation of salary of its employees  by 15%. Maten Petroleum is a  big independent oil and gas company   involved in oil exploration and production in Kazakhstan. The company is the operator of three oil fields, including Kara-Arna, Kokarna Eastern and Matin. Shares of Maten Petroleum JSC are quoted at the Kazakhstan Stock Exchange. 

From February 1, 2014 Tengizchevroil will raise salary of its employees by 10% as well. General Director Tengizchevroil Tim Miller said at the session of the employees: “The company has always supported and will support its employees.” He also said that Tengizchevroil will increase the salary by in average 9% and more for the majority of its employees from April 1, 2014.

“Kazakhstan President Nursultan Nazarbayev has requested all big companies of the republic to increase salary of their employees by 10% and Tengizchevroil supported the president’s appeal,” Miller said.—0—