EGM Results

Press Release

JSC KazMunaiGas Exploration Productionheld an Extraordinary General Meeting of shareholders 

Astana, 27 February 2012. Today JSC KazMunaiGas Exploration Production ("the Company" or "KMG EP") held an Extraordinary General Meeting of shareholders at which a member of the Company's Board of Directors, Askar Balzhanov, was relieved of his duties . Lyazzat Kiinov has been appointed as a member of the Company's Board of Directors for the whole term.

Notes to Editors

Lyazzat Ketebaevich Kiinov graduated from Kazakh Polytechnic Institute. He is a Doctor of Technical Sciences and an Academician of the International Academy of Engineering. He has been working in the oil and gas industry since 1971, and has passed through all stages of professional development in the sector. He was an Oil and Gas Production Operator at "Zhetibayneft", worked as a Chief Engineer of the "Mangyshlakneftepromhim", as well as a Head of "Karazhanbasstermneft" Oil and Gas Production Department, "Komsomolskneft". He held senior positions in NC KazMunaiGas JSC, in the Caspian Pipeline Consortium, in the Ministry of Oil and Gas of the Republic of Kazakhstan. Over the years he was a Head of Mangystau oblast. Lyazzat Kiinov has been awarded the "Parasat" Order, and 10th Anniversary of Kazakhstan Independence Medal.

Board of Directors

Sisengali Utegaliyev - Acting Chairman of the Board of Directors, General Manager for Production of NC KMG

Lyazzat Kiinov - Chairman of the Management Board of NC KMG

Alik Airbayev - Chief Executive Officer and Chairman of the Management Board of KMG EP

Yerzhan Zhangaulov - General Manager for Legal Affairs of NC KMG

Assiya Syrgabekova - Chief Financial Officer of NC KMG

Philip Dayer - Independent Non-Executive Director

Paul Manduca - Independent Non-Executive Director

Edward Walshe - Independent Non-Executive Director

Management Board of KMG EP

Alik Aidarbayev - Chief Executive Officer and Chairman of the Management Board

Vladimir Miroshnikov - Deputy Director General

Abat Nurseitov - Deputy Director General for Production

Benjamin Fraser - Managing Director - Financial Controller

Malik Saulebay - Managing Director for Legal Issues

Eldan Salimov - Managing Director on Logistics and Contracts

Botagoz Ashirbekova - Director of the HR Department

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2011 was 12.3mt (an average of 250 kbopd) of crude oil, including the Company's share in Kazgermunai, CCEL and PKI. The total volume of proved and probable reserves, as at the end of 2010 was 232mt (1.7bn bbl), including shares in the associates - about 2.2 bn barrels. The Company's shares are listed on the Kazakhstan Stock Exchange and the GDRs are listed on The London Stock Exchange. The Company raised over US$2bn in its IPO in September 2006. The international rating agency, Standard & Poor's (S&P), confirmed KMG EP's "BBB-" corporate credit rating in December 2011 and "GAMMA-6" rating in September 2011.

For further details please contact us at:

KMG EP Public Relations (+7 7172 97 79 08)

Yelena Pak

E-mail: [email protected]

KMG EP Investor Relations (+7 7172 97 5433)

Asel Kaliyeva

E-mail: [email protected]

Pelham Bell Pottinger (+44 207 861 3147)

Elena Dobson

E-mail: [email protected] 

Forward-looking statements

This document includes statements that are, or may be deemed to be, ''forward-looking statements''. These forward-looking statements can be identified by the use of forward-looking terminology including, but not limited to, the terms ''believes'', ''estimates'', ''anticipates'', ''expects'', ''intends'', ''may'', ''target'', ''will'', or ''should'' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They include, but are not limited to, statements regarding the Company's intentions, beliefs and statements of current expectations concerning, amongst other things, the Company's results of operations, financial condition, liquidity, prospects, growth, potential acquisitions, strategies and as to the industries in which the Company operates. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. Forward-looking statements are not guarantees of future performance and the actual results of the Company's operations, financial condition and liquidity and the development of the country and the industries in which the Company operates may differ materially from those described in, or suggested by, the forward-looking statements contained in this document. The Company does not intend, and does not assume any obligation, to update or revise any forward-looking statements or industry information set out in this document, whether as a result of new information, future events or otherwise. The Company does not make any representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved.