KMG EP CEO has resigned
Astana, 08 September 2015. JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces that the Abat Nurseitov, Company’s CEO, has tendered his resignation as the Company’s CEO (Chairman of the Management Board) and member of the Board of Directors due to his transfer to another job, which was accepted by the Board of Directors.
The decision on the appointment of a new CEO will be made by the KMG EP Board of Directors in the near future, with announcement following.
Christopher Hopkinson, Chairman of the KMG EP Board of Directors thanked Abat Nurseitov for his valuable contribution during the stabilisation period of the Company.
The duties of the CEO (Chairman of the Management Board) of the Company were entrusted to the Chief Financial Officer Dastan Abdulgafarov starting from September 8, 2015 until the election of a new CEO in due course.
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 2014 was 177 million tonnes (1,303 mmbbl), out of which 132 million tonnes (981 mmbbl) 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.
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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