Kazakhstan
312 Employees
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Third-party revenues
$26,556,273
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Related-party revenues
$2,432,269,868
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Total revenues
$2,458,826,141
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Profit before tax
$1,169,061,315
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Tax paid
$200,134,312
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Tax accrued
$200,965,054
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Tangible assets
$10,275,148,391
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Stated capital
$0
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Accumulated earnings
$0
Main business activities
- Upstream
- Integrated Gas
- Other support activities
Shell’s Footprint
Shell has been present in Kazakhstan since 1993. We have interests in the Karachaganak and Kashagan projects (Shell interest 29.25% and 16.81% respectively), which generate revenues from oil and gas sales. We also have a minority interest in the Caspian Pipeline Consortium, which transports oil to the coast of the Black Sea.
Country financial analysis
The statutory corporate income tax rate in Kazakhstan is 20%. There are different tax rates for certain production-sharing agreements and subsoil use contracts. The tax rate is 30% for Kashagan and 33.5% for Karachaganak. The Kashagan project began production and started to generate revenues in November 2016 but continued to report taxable losses in 2021. Revenues from both projects fell in 2020 because of a significant drop in demand and prices as a result of the COVID-19 pandemic but recovered in 2021. The tax paid figure relates primarily to profit generated from the Karachaganak project which is also disclosed in our Payments to Governments Report for 2021.
