Kazakhstan

Employees

274

• Third-party revenues

  $(3,233,182)

• Related-party revenues

  $2,803,556,304

• Total revenues

  $2,800,323,122

• Profit before tax

  $1,561,829,996

• Corporate income tax paid

  $276,361,876

• Corporate income tax accrued

  $278,427,602

• Stated capital

  $0

• Accumulated earnings

  $0

• Tangible assets

  $9,932,855,247

• Other payments to governments

  –

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 owns and operates an oil pipeline from the Caspian Sea to the Black Sea, across parts of Kazakhstan.

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 2022. Revenues from both projects increased in 2022 due to higher global oil prices. The corporate income tax paid figure relates primarily to profit generated from the Karachaganak project, which is also disclosed in our Payments to Governments Report for 2022.