Shell subsidiary reports more than $350 million in profit in Kazakhstan

The Aksai branch of BG Karachaganak Limited in western Kazakhstan reported a profit of $355.6 million in 2025, according to its financial statements. In 2024, the branch reported a profit of $431.6 million. BG Karachaganak is a U.K. -registered company controlled by Shell Plc.

Overall, the branch’s revenue declined to $1.05 billion in 2025 from $1.2 billion in 2024. Crude oil accounted for $1.026 billion in revenue in 2025, compared with $1.16 billion in 2024, while gas and gas products generated $27.6 million and $31.4 million, respectively. The company supplies its oil to the U.K. and its gas to Kazakhstan.

In 2025, the branch’s management, represented by a single person — Suzanne Coogan — received $375,000 in total compensation. In 2024, total management compensation, also for one person, amounted to $491,000.

On June 29, 2026, the branch paid $550 million in profit to BG Karachaganak Limited.

Shell holds a 29.25% stake in the Karachaganak field, one of the world’s largest gas-condensate fields. Through BG Karachaganak Limited, it participates in the field’s development under the Final Production Sharing Agreement (FPSA), signed in 1997 and valid until the end of 2037.