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Eurasia Journal News

KMG EP: Aksay Oil and Gas Field Put on Stream

KazMunaiGas Exploration Production JSC  announces that JV Kazgermunai’s Aksay oil and gas field located in Kyzylorda region has been put on stream. At the commissioning ceremony, KMG EP Chief Executive Mr Abat Nurseitov said: “Aksay field commissioning will allow Kazgermunai to maintain oil production at current level. Also, additional volumes …

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KMG EP: Profit Up Five Fold Due to Foreign Exchange Gains

KazMunaiGas Exploration Production announces its condensed consolidated interim financial statements for the six months ended 30 June 2014. ·    Net profit for the first six months of 2014 was 210.3bn Tenge (US$1,193m) compared to 38.8bn Tenge (US$257m) in the same period of 2013 largely due to a significant before tax foreign exchange gain as …

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KazMunaiGas Exploration Production Comments on Share Price Movement

KazMunaiGas Exploration Production notes the recent movement in the price of the Company’s listed securities and confirms that Independent Directors of KMG EP received a highly preliminary approach from National Company KazMunaiGas NC (“NC KMG”), its majority shareholder, about a possible offer for the ordinary shares in KMG EP it …

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KazMunaiGas Exploration and Production: Releases Reserves Verification and Changes

JSC КаzМunaiGas Exploration Production is pleased to announce the result of the verification of reserves at 31 December 2011 and 2012 in the Ozenmunaigas, Embamunaigas and Ural Oil and Gas (50% ownership) fields. In summary, KMG EP will continue to use the reserves assessment made by Miller and Lents Ltd. …

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KMG EP: Strikes New Find at the Rozhkovskoye Field

KazMunaiGas Exploration Production Joint Stock Company announces a new discovery in the Bashkirian tier’s sediments of the Carboniferous period in the Rozhkovskoye field. Inflow of light dry crude oil and gas with maximum flow rates of 1.9 kboe/day and 6 million cubic feet/day, respectively, with 24/64″ (9.5 mm) choke, was …

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JSC KazMunaiGas Exploration Production 1Q 2014 Financial Results

JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces condensed consolidated interim financial statements for the three months ended 31 March 2014. • Revenue in the first three months of 2014 was 220.8bn Tenge (US$1,301m)[1], a 9% increase compared with the same period for 2013. The average price of Brent …

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KMG EP: Ups Q1 Production by 1%

JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces its operating results for the first quarter of 2014. KMG EP produced 3,048 thousand tonnes of crude oil (250 kbopd) for the first three months of 2014, including the Company’s stakes in Kazgermunai (KGM), CCEL (CCEL) and PetroKazakhstan Inc. (PKI), …

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KMG EP: Holds Board Meeting and Implements a Unified System of Wages for Employees

Yesterday the Board of Directors of JSC KazMunaiGas Exploration Production, KMG EP, met to approve the meeting agenda and set a date for the Shareholders Annual General Meeting for 13 May 2014. The AGM agenda: approve annual consolidated financial statements and the Company’s 2013 Annual Report, agree dividend regarding 2013 …

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KazMunaiGas E&P: Administrative Fine of 327.9 billion Tenge Dismissed by Court

JSC KazMunaiGas Exploration Production is pleased to announce that the Specialized Administrative Court in Aktau of Mangistau region has ruled that the Act on inspection results of the Department of Ecology of Mangistau Region and the claim for environmental damage in the amount of 327.9 billion Tenge (US$ 1.8bn), which has been brought …

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Ozenmunaigas: Administrative fine of 212.6 billion Tenge dismissed by court

Further to the press release dated 27 February 2014, reconfirming the successful appeal of an administrative fine of 212.6 billion Tenge against JSC Ozenmunaigas (“OMG”), JSC KazMunaiGas Exploration Production (“the Company”) is today pleased to announce that the Specialized Administrative Court in Aktau of Mangistau region (“the Court”) has ruled …

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