Authorities of the republic keep under the consideration the question on expediency of conducting IPO by Exploring Mining KazMunayGas JSC

/INTERFAX-KAZAKHSTAN, Almaty, June 8, 06/ - There has not been any decision in terms of conducting IPO by Exploring Mining KazMunayGas JSC yet, informed minister of energy and mineral resources of Kazakhstan Baktykozha Izmuhambetov. The head of Ministry of energy noted that this question was being studied by company Exploring Mining KazMunayGas JSC. The company undertook the study in this area, and as the minister noted, they were not restricted in time, while taking the decision, and it is accepted soon to get corresponding results. Exploring Mining KazMunayGas JSC is oil-production daughter of national oil company of Kazakhstan KazMunayGas JSC. Firstly, it was announced about IPO conducting by Exploring Mining KazMunayGas JSC in the middle of the previous year. KazMunayGas is vertically integrated oil-gas company with 100% stake of state's participation. About 40 diverse-oriented branches and enterprises, accomplishing the whole circle of work and services on exploring, mining, processing, transporting and realization of hydrocarbon raw materials, construction of objects of oil manufactory, telecommunication, carting, are in the company. Company KazMunayGas in year 2005 made 9 m. 364 th. tons of oil and gas condensate, that is 445 th. tons more than in year 2004. In year 2006 KazMunayGas plans to make 9 m. 450 th. tons of hydrocarbons. [2006-06-08]