KMG EP Announces Extension of Subsoil Use Contracts
Astana, 11 March 2015. KazMunaiGas Exploration Production JSC (“KMG EP” or “Company”) 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 2048; the Botakhan, Makat, Dossor, Tanatar, Kamyshitovoye, etc. fields (all in all 22 fields - contract №211) valid until 2037; the Prorva, Kulsary, Karaton, Koschagyl, etc. field (all in all 13 fields - contract №413) valid until 2043.
Additionally, the contract for the exploration of hydrocarbons (contract №468) with Ural Oil and Gas LLP which has been operating within the Fedorovsky block has been extended until 2016.
Notes to editors
KMG EP is among the top three Kazakh oil producers. The overall production in 2014 was 12.3 million tonnes (250 kbopd) 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 (1.5 bn bbl), out of which 148.8 million tonnes (1.1 bn bbl) relates to Ozenmunaigas, Embamunaigas, and Ural Oil and Gas (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.
Embamunaigas has 5 contracts to develop oil fields in the Atyrau Province. Contract №992 Novobogatinsk-West is valid until 2027.
Fedorovsky block is located in the West Kazakhstan Province. Roshkovskoye field was discovered within that block.
For further details please contact us at:
KMG EP. Investor Relations (+7 7172 97 5433)
KMG EP. Public Relations (+7 7172 97 79 08)
Brunswick Group (+44 207 404 5959)
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