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 2009.
KMG EP is developing 41 fields in Western Kazakhstan, the largest being the Uzen field - in production since 1965.
At the end of 2009, proved plus probable oil reserves were estimated to be 234 million tonnes (1,725 million barrels), with an estimated reserves life of 26 years at 2009 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 Trade House KazMunayGas.
Exports accounted for 77% of 2009 sales in volume terms (77% in 2008).
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.
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.
