KMGEPreserves update as at 31 December 2013

Astana, 11 April 2014. JSC KаzМunaiGasExploration Production (“KМG EP” or the “Company”) announces the results of the reserves auditas at 31 December 2013 performed by the independent consultant MillerandLents, Ltd. (“MLL”) atOzenmunaigasJSC (“OMG”), Embamunaigas JSC (“EMG”), and Ural Oil and Gas LLP (“UOG” where KMG EP holds a 50% stake) fields.

According to the MLL reportthere were no significant changes in hydrocarbon reserves as at the end of 2013 compared to the reserves as at the end of 2012.

·           Proved (1P) reserves increased by 4.6% or 5.4 million tonnesto122.1 million tonnes (902 million barrels);

·           Proved plus probable (2P) reservesincreased by 0.6% or 0.9 million tonnesto 148.8 million tonnes (1,101 million barrels);

·           Proved,probable plus possible (3P) reserves declined by 0.4% or 0.7 million tonnes to 182.7million tonnes (1,349 million barrels).

The increase in 1P and 2P reserves is mainly due to:

·           consideration oflong-term plans for drilling of new wells and geological and technical measureson producing assets;

·           revision of estimated annual production decline rate;

·           positivetest results of exploration wellsat Rozhkovskoye field (Fedorovskiy block).

The results of the assessment of liquid hydrocarbons as at 31 December 2013[1]

Assessment of 2P reserves of joint ventures were made separately by independent auditors[2].KMG EP’sshare in overall 2P reserves of Kazgermunai (KGM) (50% stake), CCEL (CCEL) (50% stake) and Petrokazakhstan Inc. (PKI) (33% stake) as at the end of 2013 amounted to 51 million tonnes (365 million barrels). Therefore, consolidated 2P reserves of KMG EP including its stakes in KGM, CCEL, and PKI as at the end of 2013 amounted to 200 million tonnes (1,466 million barrels).

Consolidated reserves

Notes to editors

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2013 was 12.4million tonnes (an average of 251kbopd) of crude oil, including the Company’s share in Kazgermunai, CCEL and PKI. The Company’s total consolidated volume of proved and probable reserves including shares in the associates, as at the end of 2013 was 200 million tonnes (1.5bnbbl), out of which 148.8 million tonnes (1.1bnbbl) relates to Ozenmunaigas, Embamunaigas, and UOG (Rozhkovskoye field, Fyodorovskiy block). The Company’s shares are listed on the Kazakhstan Stock Exchange and the GDRs are listed on The London Stock Exchange. The Company raised over US$2bn in its IPO in September 2006. The International rating agency Standard & Poor's (S&P) confirmed KMG EP’s “BBB-” corporate credit rating in May 2013.

For further details please contact us at:

KMG EP. Investor Relations (+7 7172 97 5433)
Asel Kaliyeva
e-mail: ir@kmgep.kz

KMG EP. Public Relations (+7 7172 97 79 08)
Elena Pak
e-mail: pr@kmgep.kz

Brunswick Group (+44 207 404 5959)

AndrewMitchell

e-mail: KMGEP@brunswickgroup.com

Forward-looking statements

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