KazMunaiGas Exploration Production

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» The Company

General Information

• Created through the merger of JSС Uzenmunaigas (UMG) and JSС Embamunaigas (EMG) in March 2004. KMG EP is subsidiary of NC KMG.
• The Company’s shares are listed on Kazakhstan Stock Exchange and the GDRs are listed on London Stock Exchange. The Company raised approximately US$2 billion in its IPO in September of 2006.
• The 2nd largest Kazakh oil producing company in 2010.
• KMG EP operates 41 fields in Western Kazakhstan excluding acquisitions made from 2007 through 2010.
• At the end of 2010, proved plus probable oil reserves of the core assets (UMG and EMG) were estimated to be 232 million tonnes (1,707 million barrels), with an estimated reserves life of 26 years at 2010 production levels.
• KMG EP has many years' experience of oil production in Kazakhstan and expert knowledge of the geology.
• KMG EP has reached agreements that provide guaranteed access to the Uzen-Atyrau-Samara (UAS), which provides the main part of Company’s export, and pipeline and the Caspian Pipeline Consortium (CPC) pipeline which is the most profitable route of KMG EP’s oil sales.
• Oil sale is performed via KazMunayGas - Refining and Marketing.
• Exports accounted for 79% of 2010 sales in volume terms.
• Acquisitions of new assets is the major element of the Company’s Policy. In April 2007 KMG EP acquired a 50% stake in JV Kazgermunai LLP. In December 2007 KMG EP acquired a 50% stake in CCEL (Karazhanbasmunai) and in December 2009 the Company acquired 33% in PetroKazakhstan Inc - all that resulted in the increase of production and significant increase in oil reserves.
• Acquisition of exploration assets reflects updated strategy of KMG EP to shift its efforts towards exploration: the Company acquired 100% in LLP “SapaBarlauService” (currently JSC “KMG EP Exploration assets”, KMG EP EA) and 100% in LLP NBK in September 2010, 50% in “Urals Group Limited” which owns the license for the Fedorovskiy block in March 2011, four exploration blocks Temir, Teresken, Uzen-Karamandybas and Karaton-Sarkamys in April 2011.
• KMG EP has developed successfully implements social program, which includes social partnership, educational projects, sponsorship and overall support of its employees and their families. KMG EP also places a strong emphasis on its responsibility towards the environment in the regions of its operations and beyond.