JV Kazgermunai LLP is one of the largest companies in the oil production sector of Kazakhstan. The company carries out its activities in the exploration, development, production and marketing of hydrocarbons at the Akshabulak, Nuraly and Aksai fields in the South Turgai depression of the Kyzylorda region In 1993, between Yuzhneftegaz and a group of German companies (Feba Oil AG and Erbdol Erdgras Gommern GmbH), with the participation of the government of Kazakhstan, a constituent agreement was signed, which marked the beginning of the creation of JV KazGerMunai LLP. The Akshabulak, Nuraly and Aksai fields were transferred to the Partnership for development. The company's specialists immediately started geological exploration, including seismic exploration and well drilling. The result of this work was the identification of five industrial oil and gas fields: Akshabulak Central, Akshabulak South, Akshabulak Vostochny, Nuraly and Aksai. The next stage of the company's development began in 1996, when PetroKazakhstan Inc., in accordance with the privatization agreement previously signed with the Government of the Republic of Kazakhstan, acquired Yuzhneftegaz JSC along with 50% of shares in two joint ventures: KazGerMunai and Turgai Petroleum. In 2006, a 50% stake in KazGerMunai was purchased by the National Company KazMunayGas.