/KASE, April 25, 07/ - Kaznefterchim JSC (Almaty), bonds of which are traded in the official list of Kazakhstan stock exchange (KASE) under "A" category, has spread the press release to the following effect:

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Kazneftechim JSC took a decision on restructuring the company for the purpose of efficient development of the main directions; they are oil chemistry and oil extraction.

"Reorganization of the company will allow us to turn all efforts to key activities - high technologies (production of metal fibers), oil production and enlargement of the resource base, which, undoubtedly, will bring to competitiveness and high production efficiency in those fields," said the General directors of Kazneftechim JSC Yedil kerishev.

Reorganization concerns, first of all, purchasing of the new company "Uralneftegas", and also selling of several service business outlets, such as oil transportation and drilling.

Thus, the following group of enterprises will enter into Kazneftechim JSC: KAZCHIMVOLOKNO LLP, engaging in chemical production of metal fibers at the plant of Kostanay city, Kazneftechim-Kopa LLP, maintaining exploring works and oil extraction in Kopa and Tagan fields, Uralneftegas LLP, maintaing exploring works and extraction in Prigranichnoe field.

to get additional information, address to PR-manager of the company Kazneftechim Emina Khodzhaeva by phone. +7 327 2777 601 (int.123), mob. +7 701 233 80 69, e-mail: e.khojayeva@knh.kz

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[2007-04-25]