KazMunaiGas Exploration Production (Kazakhstan) informs on changes in Management Board

/KASE, July 2, 09/ - KazMunaiGas Exploration Production (Astana), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release dated July 1, 2009: Quotation beginning JSC KazMunaiGas Exploration Production ("the Company" or "KMG EP") today announces that the Board of Directors has approved certain changes to the Management Board. Following previously announced management changes at KMG EP's production divisions, Dovulbay Abilkhanov, Director of Ozenmunaigas, and Isturgan Baimukhanov, Director of Embamunaigas have become new members of the KMG EP Management Board. The Management Board is headed by Kenzhebek Ibrashev, the new CEO of KMG EP, effective from June 1, 2009. Kairbek Eleusinov has stepped down as a member of the Management Board. The Board has also approved the Business Principles of KMG EP and discussed a number of issues concerning the activities of the Company. NOTES TO EDITORS KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2008 was 11.95mmt (an average of 240kbopd) of crude oil, including the Company's share in Kazgermunai and CCEL. The total volume of proved and probable reserves as at the end of 2008 is 241mmt (1.8bn bbl), excluding the relevant proportion of reserves at Kazgermunai and CCEL; including the share of reserves from Kazgermunai and CCEL the 2P reserves are over 2.1bn barrels. The Company's shares are listed on Kazakhstan Stock Exchange and the GDRs are listed on London Stock Exchange. The Company raised approximately US$2bn in its IPO in September 2006. Kenzhebek Ibrashev prior to becoming the CEO of KMG EP held the position of Vice President of NC KMG on exploration and production, and since October 30, 2007 has been a member of the KMG EP Board of Directors. Mr Ibrashev graduated from the Moscow Institute of Petrochemical and Gas Industry. He has gained broad experience working in a number of senior positions in the oil and gas industry. Mr Ibrashev worked as Director for business development at Agip Kazakhstan North Caspian Operating NV from 2003 to 2005. He was First Deputy CEO, and CEO of KazMunayTeniz in 2005-2007. Dovulbay Abilkhanov prior to his appointment as Director of Uzenmunaigas worked as First Deputy Director at UMG. He graduated from the Kazakh Polytechnic Institute specialising in Oil & Gas Exploration Technology. From July 2007 until July 2008 he headed Zhaikmunaigas. From 2000 until 2007 he held various positions at Oil and Gas Production Department (OGPD) N2 of UMG, as well as at Cruz and Uzenneft LLP. Isturgan Baimukhanov since 2006 worked as Chief Technical Officer and later as Chief Executive Officer, Chairman of the Management Board of JV Kazgermunai LLP. He graduated from the Kazakh Polytechnic Institute specialising in Oil & Gas Geology and Exploration. From 1991 to 2006 he held various positions in Arnaoil LLP, Kazmunaigas-Telf and JV Kazpromstavba. He also worked at Guriev Area Executive Committee and Production Geological Association Gurievneftegasgeologiya. New Management Board of KMG EP Kenzhebek Ibrashev - CEO of KMG EP Vladimir Miroshnikov - First Deputy General Director Zhanneta Bekezhanova - Chief Financial Officer Kairolla Erezhepov - Managing Director on Personnel and Social Policy Bagitkali Biseken - Managing Director on Share Management in Subsidiaries Dovulbay Abilkhanov - Director of Ozenmunaigas Isturgan Baimukhanov - Director of Embamunaigas. Contact: KMG EP, Public Relations (+7 7172 97 7600) Daulet Zhumadil e-mail: pr@kmgep.kz KMG EP, Investor Relations (+7 7172 97 5433) Asel Kaliyeva e-mail: ir@kmgep.kz Pelham PR (+44 207 337 15 17) Elena Dobson e-mail: Elena.dobson@pelhampr.com Quotation end [2009-07-02]