/KASE, September 21, 2022/ – National company "KazMunayGaz" JSC (Nur-Sultan),
whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release dated September 20, 2022:
On September 15, 2022, JSC NC «KazMunayGas» (the «KMG») used the right
under the Share Option Agreement concluded in 2015 and acquired from JSC
Samruk-Kazyna (the «Fund») a 50% share in KMG Kashagan B.V. for 3.8 billion
US dollars, which owns 16.88% in the North Caspian Production Sharing
Agreement (the Kashagan project).
«This acquisition is one of the largest transactions for KMG in recent years. As
a result of the increase in the share in the Kashagan project, KMG's consolidated
production, EBITDA, net profit and assets will improve. At the same time, the
company's debt will also increase. It is planned that payment for the acquisition
will be made at the expense of cash flows of KMG Kashagan B.V.» Deputy Chairman
of the Management Board of KMG Dauren Karabayev said.
The full press release is available on KASE website –