KazMunayGas Group on the current situation
Joint-stock National Company KazMunayGas (“KMG”) informs on the stable assets’ operation during the state of emergency in the Republic of Kazakhstan.
Oil & gas producing, oil transporting, oil refining, gas processing, service and the other Group assets did not stop their production processes and maintain operations in a normal condition.
At the same time, there are shutdowns of some separate drilling wells at production facilities and a slight decrease in oil production, which does not significantly affect the overall results of the KMG.
The impact of the current situation in the Republic of Kazakhstan in connection with the riots in early January 2022 on the KMG will be properly disclosed in a regular financial, operational and other reports.
It is worth noting that KMG fulfills all of its obligations to third parties, including complying with all covenants and other conditions in its international loan agreements and that KMG has a sufficient margin of safety and cash liquidity for such force majeure cases.
As of now, the Crisis Management Team is taking all necessary measures on the prevention of destabilization of the situation at production facilities and on prompt responds to emerging issues.