JSC KazMunaiGas Exploration Production

JSC KazMunaiGas Exploration Production (“KMG EP” or the “Company”) announces the approval by the Board of Directors (“the Board”) of a revision to the Company’s 2015 budget. The 2015 budget was revised assuming the average annual Brent price of US$51 per barrel and an average annual exchange rate of 208 …

JSC KаzМunaiGas Exploration Production announces today the results of the reserves audit as at 31 December 2014 performed by independent consultant Miller and Lents, Ltd. at the Ozenmunaigas JSC (“OMG”), Embamunaigas JSC (“EMG”) and Ural Oil and Gas LLP (“UOG” where KMG EP holds a 50% stake) fields. According to …

KazMunaiGas Exploration Production JSC announces today that addendums have been signed to extend contracts between the Kazakh Ministry of Energy and KMG EP subsidiaries. The following four contracts have been extended with JSC Embamunaigas: the Kenbay field (contract №37) valid until 2041; the SE Novobogatinsk field (contract №61) valid until …

The Independent Directors of JSC KazMunaiGas Exploration Production note the announcement by National Company KazMunaiGaz that it is withdrawing its proposal to acquire the shares in KMG EP that it does not already own at a price of US$18.50 per GDR. Since the announcement on 25th July, 2014 of KMG …

KazMunaiGas Exploration Production JSC  announces that JV Kazgermunai’s Aksay oil and gas field located in Kyzylorda region has been put on stream. At the commissioning ceremony, KMG EP Chief Executive Mr Abat Nurseitov said: “Aksay field commissioning will allow Kazgermunai to maintain oil production at current level. Also, additional volumes …

JSC KazMunaiGas Exploration Production held its regular Board of Directors meeting on December 8, 2014. At the meeting the Board approved the budget for 2015 which assumes a Brent oil price of US$70 per barrel. Planned production in 2015 is expected to be 5.4 million tonnes (109 kbopd) from JCS …