Jsc Nc Kazmunaigas

've passed internship this summer in JSC NC "KazMunaiGas" (KMG) that is the largest oil and gas national company in the country, which accounts for about 35% of oil production in Kazakhstan. The objective of the internship I was involved in was to apply theoretical knowledge gained at KIMEP, specifically in my major, Finance, field, in practice. Indeed, the internship was taken by me in order to understand what field of finance I am most successful to work in.

The department I was in is Business Planning and Economic Analysis department, which core functions imply preparation and correction of business plans, annual budgets and consolidated financial statements. Basically, talking in terms of methodology, the department consists of 4 sectors: DZO (subsidiary companies) sector, taxes sector, KazMunaiGas head office sector and Consolidated Group sector. I was involved in the process of preparation of financial statements ended half year of dependent subsidiary companies and joint ventures in the subsidiary companies dept sector. Moreover, I had an opportunity to work in Consolidated Group sector at the end of my internship month, where consolidated financial statements reports were prepared.

Recognizing gravity of the department activities and confidentiality of documentation, I was admitted by the supervisor to financial statements of the company at 2nd week of my internship. Concerning the scope of my job, I did calculations of basic operational and financial ratios concluding with some analysis. First two weeks I got to know with the company, its business activities, and the department itself. During my all internship, every worker was completely involved in preparation of financial statements ended half year that had to be sent to the shareholder of KMG, Samruk at the end of the month.

Through the work with "Tengizchevroil" and KMG's financial statements, I realized that TCO does not provide KMG with ROACE and EVA ratios calculations as the joint venture does not prepare projected balance sheets according to its business plan. Having passed Financial Statement Analysis course last semester, I offered to my supervisor a substitute way of evaluation of EVA for TCO. Currently the department is considering the implementation of that formula.

Within my internship, I deeply realized the importance of my major, Finance, and the whole responsibility that each financial manager bears. Moreover, particular courses that I passed in KIMEP before going to KMG, Financial Statement Analysis and Corporate Finance, significantly helped me in the analysis and I successfully applied the theoretical skills I obtained in financial courses.

From the very first day of my internship I faced definite limitation - lack of knowledge of Russian terminology. As KMG is national company, all documentation is held in Russian and Kazakh, where specialized English is needless. Importantly, the internship in