KMG EP: Profit Up Five Fold Due to Foreign Exchange Gains
KazMunaiGas Exploration Production announces its condensed consolidated interim financial statements for the six months ended 30 June 2014. · Net profit for the first six months of 2014 was 210.3bn Tenge (US$1,193m) compared to 38.8bn Tenge (US$257m) in the same period of 2013 largely due to a significant before tax foreign exchange gain as …
KMG EP: Issues 1H 2014 Figures Plus Finds Solution to Radioactive Build-Up
JSC KazMunaiGas Exploration Production announces its operating results for the first half of 2014, an update on the modernization programme, details of a memorandum signed with the environmental agency, information on the start of trial production on Liman block and an update on the decision on the sale of shares …
KazMunaiGas Exploration and Production: Releases Reserves Verification and Changes
JSC КаzМunaiGas Exploration Production is pleased to announce the result of the verification of reserves at 31 December 2011 and 2012 in the Ozenmunaigas, Embamunaigas and Ural Oil and Gas (50% ownership) fields. In summary, KMG EP will continue to use the reserves assessment made by Miller and Lents Ltd. …
KMG EP: Strikes New Find at the Rozhkovskoye Field
KazMunaiGas Exploration Production Joint Stock Company announces a new discovery in the Bashkirian tier’s sediments of the Carboniferous period in the Rozhkovskoye field. Inflow of light dry crude oil and gas with maximum flow rates of 1.9 kboe/day and 6 million cubic feet/day, respectively, with 24/64″ (9.5 mm) choke, was …
KMG EP: Ups Q1 Production by 1%
JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces its operating results for the first quarter of 2014. KMG EP produced 3,048 thousand tonnes of crude oil (250 kbopd) for the first three months of 2014, including the Company’s stakes in Kazgermunai (KGM), CCEL (CCEL) and PetroKazakhstan Inc. (PKI), …
KMG EP: Holds Board Meeting and Implements a Unified System of Wages for Employees
Yesterday the Board of Directors of JSC KazMunaiGas Exploration Production, KMG EP, met to approve the meeting agenda and set a date for the Shareholders Annual General Meeting for 13 May 2014. The AGM agenda: approve annual consolidated financial statements and the Company’s 2013 Annual Report, agree dividend regarding 2013 …
KazMunaiGas E&P: Administrative Fine of 327.9 billion Tenge Dismissed by Court
JSC KazMunaiGas Exploration Production is pleased to announce that the Specialized Administrative Court in Aktau of Mangistau region has ruled that the Act on inspection results of the Department of Ecology of Mangistau Region and the claim for environmental damage in the amount of 327.9 billion Tenge (US$ 1.8bn), which has been brought …
Ozenmunaigas: Administrative fine of 212.6 billion Tenge dismissed by court
Further to the press release dated 27 February 2014, reconfirming the successful appeal of an administrative fine of 212.6 billion Tenge against JSC Ozenmunaigas (“OMG”), JSC KazMunaiGas Exploration Production (“the Company”) is today pleased to announce that the Specialized Administrative Court in Aktau of Mangistau region (“the Court”) has ruled …
KMG E&P’s Ozenmunaigas Hit with Envirnomental Damage Charge
JSC KazMunaiGas Exploration Production announces that the Department of Ecology of Mangystau Region (“Department of Ecology”) has presented JSC “Ozenmunaigas” (OMG) with a claim for environmental damage for the amount of 327.9 billion Tenge in relation to the disposal of contaminated soil. This claim is made on the same basis …
KazMunaiGas Exploration Production: 2013 Financial Results, Profit Down 12%
JSC KazMunaiGas Exploration Production announces its consolidated financial results for the year ended 31 December 2013. The Company’s revenues in 2013 were 816.7bn Tenge (US$5,368m), 2% higher than in 2012. In 2013 average Brent price declined by 3% compared with 2012. Export sales volumes dropped by 1%, whereas domestic sales …