Created through the merger of JSС Uzenmunaigas and JSС Embamunaigas 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 2008.
KMG EP is developing 41 fields in Western Kazakhstan, the largest being the Uzen field - in production since 1965.
At the end of 2008, proved plus probable oil reserves were estimated to be 241 million tonnes (1,775 million barrels), with an estimated reserves life of 25 years at 2008 production levels.
Over 100 years of experience and knowledge of the geology of its fields in the western region of Kazakhstan.
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.
Exports accounted for 77% of 2008 sales in volume terms (78% in 2007).
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) that resulted in the increase of production and significant increase in oil reserves.
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.
