National Company KazMunaiGas (Kazakhstan) acquires 100 % shares of N Block BV Company

/KASE, January 30, 13/ - National Company KazMunaiGas (Astana), bonds of which are officially listed on Kazakhstan Stock Exchange (KASE), provided to KASE the following press release of January 30, 2013: quotation On January 25, 2013, between National Company KazMunaiGas (KMG) and and ConocoPhillips Petroleum Holdings B.V. (COF) was competed the deal on acquisition of 100% shares of N Block BV Company. As a result of this deal KMG becomes the owner of 75.5% of subsoil use rights in the N Project and 75.5% stake in LLP N Operating Company. According to the signed contract for subsoil use rights in the N Project the Project participants are KMG - 75.5% and Oil & Gas N Block Kazakhstan Gmbh - 24.5%. The increase of KMG stake in the N Project demonstrates steps towards strengthening of the National Company in marine geological exploration projects in Kazakhstan sector of Caspian Sea. Reference: The N Project is being implemented in compliance with the Agreement on Products Sharing of December 29, 2007 #2546, transformed on May 29, 2009 into the Contract on Exploration and Production of Hydrocarbon Raw Product on the "N" area and additions to it. On the structure of Shelly-Sea was implemented the transfer to evaluation activities. Based on result of geological explorations on Nursultan structure was sent the notice to Kazakhstan Ministry of Oil and Gas on potential discovery of hydrocarbons. LLP N Operating Company - the created company-operator to implement the N Project (Participants KMG - 75.5% and Oil & Gas N Block Kazakhstan Gmbh - 24.5%.) Press Service National Company KazMunaiGas Republic of Kazakhstan, 010000, Astana, 19, Kabanbai batyr Ave. tel. +7 (7172) 976277 www.kmg.kz. ends [2013-01-30]