/KASE, 28.04.08/ - KazMunaiGas Exploration Production JSC (Astana),
shares of which are traded in the Kazakhstan Stock Exchange (KASE) category
"A" official list, disseminated today the following press release.
Quotation start
Astana, April 28, 2008. JSC KazMunaiGas Exploration Production ("KMG EP" or
"the Company") announces today that in the first three months of 2008 the
Company produced 2,892 thousand tonnes of crude oil (233.5 kbopd). This is 604
thousand tonnes more than in the first three months of 2007, representing a
26.4% year on year increase. The increase is primarily due to the acquisition of
a 50% stake in companies Joint-Venture Kazgermunai LLP and CCEL
(Karazhanbasmunai) in April and December of 2007 accordingly.
Excluding the Company's share in the assets acquired in the previous year, KMG
EP's production in the first three months of 2008 was 2,304 thousand tonnes of
crude oil (186.3kbopd). This is 15 thousand tonnes more than in the similar
period of 2007. Maintaining production levels on the core assets has been
achieved primarily due to the application of production enhancement techniques
and drilling of new wells.
Based on preliminary data, in the first three months of 2008 the Company
supplied 2,156 thousand tonnes of crude oil (174.3 kbopd) to the customers,
excluding oil produced by Kazgermunai and CCEL. Out of this amount,
approximately 1,636 thousand tonnes (132.8 kbopd) were supplied to export
markets. In the first three months of 2008, crude oil exports by Kazgermunai and
CCEL were 86% and 85% of their sales volumes respectively.
The Company's expected level of oil production for 2008 is 12.1 million tonnes
(242.5 kbopd), an increase of 13.7% compared to 2007, including 9.5 million
tonnes (191.0 kbopd) from its core assets and 2.6 million tonnes (51.4 kbopd)
from 50% stakes in Kazgermunai and CCEL.
Contact information:
KMG EP, Public Relations
(+7 7172 977908, +7 7172 977924)
Zukhra Sultanova
e-mail: pr@kmgep.kz
KMG EP, Investor Relations
(+7 7172 975433)
Alexander Gladyshev
e-mail: ir@kmgep.kz
WMC Communications Ltd/Pelham PR
(+44 203 178 44 18)
Elena Dobson
e-mail: Elena.dobson@wmccommunications.com
Quotation end
The full version of the press release of KazMunaiGas Exploration Production JSC
is available on the KASE website at:
-
http://www.kase.kz/emitters/scan/rdgz/rdgz_reliz_280408k.pdf - in Kazakh;
-
http://www.kase.kz/emitters/scan/rdgz/rdgz_reliz_280408.pdf - in Russian;
-
http://www.kase.kz/emitters/scan/rdgz/rdgz_reliz_280408e.pdf - in English.
[2008-04-28]