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Activities
of the company 
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Main
Activity:
The
main activity of the company is production and marketing of various
types of fuels. The fuels are produced in the mini-refinery capable
of processing 400 000 tons of Karachaganak unstable condensate
a year. The company is constantly working on increasing the variety
of marketed fuels.
Now
SC "Condensate" currently markets the following products:
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heavy distillated liquid fuel per TU 27
10 RK 15336125 OAO-010-2004;
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diesel fuel ST AO 15336125-1-2006 of DL-0,5-40
and DZp-0,5 minus 35 brands.
In
addition, the company is capable of producing the following
products:
Commercial
Activity
Long-term
trading contracts for supply of crude and end products secure
a stable commercial activity of the Company. At average treatment
targets of about 43 000 tons of crude monthly sales amount to
30 000 tons of heavy distillate liquid fuel and 8 000 tons of
diesel fuel.
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Performance
Indicators
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#
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Indicators
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Units
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2007 y.
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2008 y.
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2009 y.,1-h.
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1
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Total Sales: |
thou. tons
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375,1
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430,3
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242,7
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| Stabile gas condensate |
thou. tons
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-
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-
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| Heavy distillated Liquid Fuel |
thou. tons
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300,1
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343,2
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192,4
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| Diesel fuel |
thou. tons
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74,4
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87,1
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38,4
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| Naftha |
thou. tons
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-
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-
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-
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2
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Total Sales of finished goods and services |
mln.USD |
161,97
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211,3
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59,3
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3
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Earnings before interest and taxes |
mln.USD
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24,4
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34,6
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6,1
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4
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Total taxes, duties and fees paid to the government |
mln.USD
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13,3
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23,9
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4,9
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5
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Number of employees |
ppl
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291
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293
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299
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6
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Average annual income of one employee |
USD
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9 241
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12 341
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6 313,8
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7
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Investments in working capital and company's
development |
mln.USD
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23,1
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29,4
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6,1
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8
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Funds directed towards sponsor support and philanthropy
activities |
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0,2
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1,2
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0,2
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TOP HOME
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Plans
and Projects
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Plans and projects
of the SC "Condensate" are related to revamping and
engineering upgrading of the company, aimed at the improvement
of product quality, increase of product assortment, as well as
improvement of the ecological situation in Aksay.
Immediate plans
of the corporation include:
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Construction of gas-oil refinery unit;
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Construction of heavy naphtha refinery unit;
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Construction of steam recuperation unit at
the Aksay oil terminal;
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Construction of stabile gas condensate compounding
unit at the Aksay oil terminal;
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Construction of system for production of
unleaded carburetor engines fuel TKI-80 and TKI-91 at the Aksay
oil terminal;
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Construction of loading facility for filling
railway tank cars with diesel fuel and gasoline brands Ais-80,
Ais-91 at the Aksay oil terminal;
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Modernization of wastewater treatment system
at MTU-400 plant;
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Modernization of automatics of the tank cars
filling facility at the Aksay oil terminal;
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Modernization of steam suction system at
the Aksay oil terminal;
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Construction of unit for purification of
stabilization gases from sulphides with capacity up to 100 million
cubic meters a year with extracting of fuel gas, liquefied gas
and elemental sulfur at MTU-400 plant.
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Business
Partners
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The JSC Condensate
partners are:
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Overseas companies:
Propak Systems Ltd (Canada),
Ventek (USA),
Agrotex (Czechia), Karachaganak Petroleum Operating b.v. (an
operator of the alliance of foreign companies at Karachaganak
field);
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Russian companies:
JSC Oil House,
JSC Shelti,
CJSC InTekhEneroResurs (Moscow),
Tram Engineering (Moscow),
Special Design Bureau "Indicator" (St. Peterburg),
GUUP VNIIUS (Kazan),
R&D Institute NefteKhimPererabotki (Ufa),
Krasnodar Compressor Plant,
Promprobor (Livny),
Kamyshinsky Experimental Plant,
CJSC TeploKhimMash (Borisoglebsk)
A number of companies from a neighboring Russian city Samara:
Electroschit Plant, CJSC SamaraElectroMash, OJSC AZSTrastStroy;
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Ukraine:
JSC Severodonetski ORGKHIM.
The list of local
partners includes all member companies of the Consortium, as well
as Zenit Plant, R&D Institute Gidropribor, Uralsk Reinforcement
Plant, OJSC AgroRemMash, CSSI Kazakhstan - Aksai City.
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Human
resources and social policy
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The JSC
Condensate staff is a highly professional and responsible team
of workers capable to efficiently contribute to the implementation
of the Company's strategy.
The personnel
policy is not based entirely on administrative methods but on
economic incentives and social protection aimed at closing in
the worker's interests with those of the company, to achieve higher
efficiency and better economic results in company operations.
The personnel
policy is aimed at:
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attracting highly qualified specialists;
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creating personnel reserve;
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training younger personnel and professional
upgrade of senior workers;
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fostering pride for the company;
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developing a system that will help the
worker to maximally use his/her knowledge and experience;
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determining a payroll system matching the
personal input in company activities;
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assessing the status of personnel, and
analyzing the problems that cause concern among the workers;
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creating comfortable working conditions;
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social protection of workers;
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promoting healthy lifestyle.
A
priority in Condensate's personnel policy is an all-round development
of company traditions, corporate culture for to upkeep the company's
positive image, maintaining a psychologically good environment
among workers, respect for an individual as a highest merit of
the company.
Implementation of Social Programs and Developing Corporate
Culture
Each
newcomer to the Company has an employment contract that stipulates
all relevant issues like salary, probation period, allowances
provided by the Company. The social programs of the Company are
aimed at social security of all workers, irrespective of their
category and status, creation of a favorable social-psychological
environment in working groups, by way of supplementary welfare
payments, benefits granted to personnel in addition to their pay.
Material incentives are provided for workers for their conscientious
work, bonuses are paid by red-letter days.
All personnel
staying with the Company for more than seven years are supplied
with a social pack including:
-extra paid rest
days,
-health benefit
on leaving for annual vacation,
-granting loans
for various social requirements of workers (excepting loans for
education),
-payment for worker's
study at educational institutions,
-jubilees, as
well as honoring on retirement.
In addition, all
personnel, from the very first day of employment, are granted
with:
-monthly compensation
for expenses for meals,
-transportation
- delivery to work and back.
After probation
period the personnel working at Aksai or Karachaganak field facilities
are paid extra 15% of their salary for their work in industrial
zones.
The personnel
are granted with annual leaves minimum 24 days. Those who are
employed in hazardous environment are provided extra paid leaves.
Best workers minimum
with two years' service with the Company are granted with a voucher
for a short-term stay at the Mechta Camping on the house.
For developing
and maintaining the corporate culture and sense of belonging corporate
events and celebrations are carried out, that involve most of
workers and their families.
And, of course,
always remembered are those who dedicated their life to the Company
- our veterans, those who were awarded with Company's Commemorative
Badge. Every year, on Company Foundation Day they are granted,
according to Badge degree, with a bonus. Also, the Company personnel
are entitled to material remuneration when they retire.
Personnel Development
The most important
aspect in personnel management is an all-time and all-round development
of personnel, improving their knowledge, professional skills and
techniques.
Annually, the
Condensate personnel are trained and re-trained based on two-schedule
program:
- the schedule
for training/retraining, qualification upgrade, participation
in international seminars, conferences and exhibitions;
- the schedule
for training/retraining of the operational personnel.
The system of
continuous training is in place that provides an objective evaluation
of professional skills during the certification of personnel and
recommendations for their further use.
To reduce the
adaptation period for newcoming personnel and for the purposes
of staffing well fitting all aspects of operational and social
life of the company a special program was implemented which includes:
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interviews of the MTU-400 Unit personnel;
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introduction of in-shop tutoring;
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funding those who study at vocational and
higher educational institutions on professions required by
the Company;
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setting up an examination and qualification
commission for evaluation of the MTU-400 Unit personnel' professional
level.
For the analysis
of unfavorable conditions, their causes and ways of remedy:
- questionnaires
are filled in for those who quit the company,
- Comments &
Proposal Boxes are installed at MTU-400 and Oil Terminal.
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For
ourshareholders
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| Full Name |
Condensate Joint-Stock Company |
| Short Name |
Condensate JSC |
| Particulars of Registration as a Legal Entity |
State Re-registration Certificate of the Legal
Entity ¹16-1926-03-ÀÎ (ÈÓ)
dated 07.12.2004 (Â series ¹0266748) issued by
the Burlinsky district Justice Department of the West-Kazakhstan
Region (WKR) Justice Department of the RoK Ministry of Justice
Condensate JSC State Re-registration
Certificate
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| TRN |
270 300 000 831 |
| BIN |
921 040 000 053 |
| Location (Address |
172, M. Ikhsanov str., 090301, Aksai, Burlinsky
district, WKR, Republic of Kazakhstan |
| Contact Details |
Tel.: 8-711-33-91571
Fax: 8-711-33-91570
E-mail: priemnaya@n.condensat.kz
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| Bank Details |
IIC 000526205 with Bank TuranAlem JSC (Aksai
branch)
BIC 194915301
Kbe 17
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| Statistic Details |
OKPO 5336125 |
| The Size of the Charter Capital |
46,000,000 KZT.
4,600,000 book-entry shares of nominal value equal to 10 KZT,
fully paid for
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| Registrar Data |
Fondovyi Center JSC,
92, Maulenova str., 050012, Almaty
License ¹ 0406200386, issued on June 15, 2005 by RoK
Agency for Control and Supervision of Financial Market and
Financial Organizations
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Information on Shareholders Meetings
in 2007
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| Annual General Meeting of Shareholders |
Annual General Meeting of Shareholders took
place on 07.08.2007. Notification about its convocation was
published in newspaper "Kazakhstanskaya Pravda"
dated 06.07.2007.
The following decisions were taken at the Annual General Meeting
of Shareholders:
1. Approval of the Shareholders General Meeting Agenda in
the proposed form in accordance with the notification about
Annual General Meeting published in newspaper "Kazakhstanskaya
Pravda" dated 06.07.2007.
2. Approval of the Annual Financial Statement for 2006 with
the balance-sheet total in the amount of 10 788 151 thsnd.
KZT and retained earnings in the amount of 6 096 355 thsnd.
KZT (published in "Kazakhstanskaya Pravda" dated
25.08.2007)
published financial statement for 2006
3. Approval of the net profit distribution procedure: 162
380 thsnd. KZT for payment of dividends to the shareholders,
69 905 thsnd. KZT for social-and-cultural measures, charity,
etc., 1 019 184 for replenishing working capital, out of them:
754 549 for repayment of current liabilities on bonds, 125
165 thsnd. KZT for repayment of current liabilities on bank
loans.
4. Approval of the dividend rate of 35.50 KZT per an ordinary
share according to the results of 2006, and it was decided
that dividends would be paid from 15.08.2007 and that only
those shareholders who are in the list prepared by the Company's
registrar (Fondovyi Center JSC) as of 14.08.2007 would be
entitled to dividends.
5. Changes are made in the Company Charter by approval of
its new revision.
6. Approval of Condensate JSC's share valuation procedure
for buying the shares back.
7. Voting for the members of the Board of Directors. The Board
will include: V. Dzhunusov, B. Guttenlockher, A. Domov, V.
Dubrovin, M. Kenesov (independent director), T. Martynova
(independent director), N. Dzhunusova, B. Tumanov (independent
director) to the date of the next Annual General Meeting of
Shareholders.
8. Approval of the Board Member Commitment Document.
9. Counting commission was elected including: A. Kutisheva,
T. Solovyeva, G. Shvechkova to the date of the next Annual
General Meeting of Shareholders.
10. Approval of Deloit LLP as an auditor performing audit
of the Company to the date of the next Annual General Meeting
of Shareholders.
Results of voting at the meeting
were published in newspaper "Kazakhstanskaya Pravda"
dated 16.08.2007.
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| Company's Dividend History (for the last
4 financial years) |
The dividend rate per 1 ordinary share of the
Company, nominal value of which is 10 KZT:
As per results of 2003 - 22 KZT (approved by the Annual
General Meeting of Shareholders on 26.05.2004),
As per results of 2004 - 9 KZT (approved by the Annual General
Meeting of Shareholders on 02.08.2004),
As per results of 2005 - 20 KZT (approved by the Annual
General Meeting of Shareholders on 26.05.2006),
As per results of 2006 - 35,3 KZT (approved by the Annual
General Meeting of Shareholders on 07.08.2004).
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| Currently Applicable Revision of the Company's
Charter |
The currently applicable revision of the Company's
Charter was approved at the Annual General Meeting of Shareholders
on 07.08.2007. |
| Company Shareholders Meetings in 2008 |
Another extraordinary general meeting of shareholders
took place on 06.02.2008. A notice about the meeting was published
in the newspaper Kazakhstanskaya Pravda 04.01.2008.
At the extraordinary general meeting of shareholders the following
decisions were taken:
1. The powers of current Board of Directors were terminated
and elected was a new Board of Directors including 8 members:
V.K.Junusov, B.G.Guttenlocher, A.A.Domov, V.S.Dubrovin, M.R.Kenesov
(Independent Director), T.F.Martynova (Independent Director),
N.A.Junusova, R.M.Kipov (Independent Director), until the
date of the regular annual meeting of shareholders.
2. Amendments N 1 to Corporate Governance Code of Condensate
JSC were approved.
3. Amendments were introduced into Charter of Company and
its new version approved.
The general meeting's ballot data were published in the
newspaper Kazakhstanskaya Pravda dated 16.02.2008.
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Contact
Information
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Republic of Kazakhstan
090000, Uralsk
SC "Condensate"
D. Nurpeisova st.
Tel.(7112) 50-04-35, 50-52-60
Fax (7112) 51-20-44
E-mail: condensate@nursat.kz
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