KazMunaiGas Exploration Production (Kazakhstan) announces operating results for the year ended December 31, 2008

/KASE, January 29, 09/ - KazMunaiGas Exploration Production (Astana), shares of which are listed on Kazakhstan Stock Exchange (KASE), spread an information message as follows. Quotation beginning JSC KazMunaiGas Exploration Production ("KMG EP" or "the Company"), announced today that in the full year ended 31 December 2008 it produced 11,954 thousand tonnes of crude oil (239.8 kbopd), which includes the Company's stakes in both JV Kazgermunai LLP ("Kazgermunai") and CCEL ("Karazhanbasmunai"). This is 1,315 thousand tonnes or 12.4% more than in 2007. The increase is primarily a result of the full-year impact of the acquisitions completed in 2007. KMG EP's production from its core assets (Uzenmunaigas and Embamunaigas) was 9,470 thousand tonnes of crude oil (190.4kbopd), approximately at the same level as in 2007. According to preliminary data, during 2008 the Company supplied 9,079 thousand tonnes of crude oil to customers (182.6 kbopd), excluding the share in supply from Kazgermunai and Karazhanbasmunai. Of this amount, 7,008 thousand tonnes (140.9 kbopd) were exported. The Company's share in the sales volumes from Kazgermunai and CCEL was 2,474 thousand tonnes of crude oil (49.17kbopd) in 2008 including 2,125 thousand tonnes (42.18kbopd) supplied to export markets. KMG EP Chief Executive Officer Askar Balzhanov said: "I am pleased to be reporting strong production figures for 2008, which are primarily a result of the successful acquisitions of 50% interests in Kazgermunai and CCEL in 2007. Today's announcement endorses KMG EP's acquisition-led strategy, in order to expand its resource base. In 2009 we will continue to identify appropriate value enhancing opportunities taking advantage of our significant financial resources and growth potential". Contact information: KMG EP, Public Relations (+7 7172 97 7600) Michael Dorofeyev E-mail: pr@kmgep.kz KMG EP, Investor Relations (+7 7172 97 5433) Asel Kalieyva E-mail: ir@kmgep.kz Pelham PR (+44 203 178 44 18) Elena Dobson E-mail: Elena.dobson@pelhampr.com Quotation end [2009-01-29]