KMG EP appoints a new CFO

KMG EP appoints a new Chief Financial Officer and a new Management Board member

Astana, 13 January 2015. KazMunaiGas Exploration Production JSC ("KMG EP" or the "Company") has appointed a new CFO, following the resignation of Zhanneta Bekezhanova.

Dastan Abdulgafarov, the former Managing Director of Business Development, has been appointed as the Chief Financial Officer (Deputy CEO for Economy and Finance). Dastan Abdulgafarov will also remain a member of the Company's Management Board.

On 12 January 2015, during the KMG EP Board of Directors meeting, Aziz Ileuov, the Managing Director for Business Development, was appointed and elected as a member of the Management Board of KMG EP. There are now seven members of the Company's Management Board.

Notes to editors

Management Board of the Company as of 12 January 2015:

Abat Nurseitov - Chief Executive Officer;Kairbek Yeleusinov - Deputy CEO for Operations;

Malik Saulebai - Head of Staff;Dastan Abdulgafarov - Chief Financial Officer (Deputy CEO for Economy and Finance);

Shane Drader - Finance Director - Finance Controller;Botagoz Ashirbekova - HR Managing Director:

Aziz Ileuov - Managing Director for Business Development.

Dastan Abdulgafarov was appointed Managing Director for Business Development in September 2006. He graduated from the Kazakh Institute of Law and International Relations majoring in International Law, and graduated from the Diplomatic Academy under the Kazakh Ministry of Foreign Affairs majoring in International Economy. He has an Executive MBA from the Skolkovo Moscow School of Management, and a Master's Degree in Oil Business from ENI Corporate University. Before joining KMG EP he was employed by KazMunayTeniz Offshore Oil Company, National Company KazMunayGas.

Aziz Ileuovhad previously been an Advisor, First Deputy General Director at Kaztransgas, Deputy General Director, and Managing Director for Economy and Finance at Kaztransoil, held various job titles at Trade House KazMunayGas, a national company Zhetysu Social and Business Corporation, ZAO Intergaz Central Asia, Kazakh Ministry of Economy, Kazakh Ministry of Finance, etc. He graduated from Belarusian State University majoring in political economy.

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2013 was 12.4 million tonnes (an average of 251 kbopd) of crude oil, including the Company's share in Kazgermunai, CCEL and PKI. The Company's total consolidated volume of proved and probable reserves including shares in the associates, as at the end of 2013 was 200 million tonnes (1.5 bn bbl), out of which 148.8 million tonnes (1.1 bn bbl) relates to Ozenmunaigas, Embamunaigas, and UOG (Rozhkovskoye field, Fyodorovskiy block). 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.

For further details please contact us at:

KMG EP. Investor Relations (+7 7172 97 5433)

Asel Kaliyeva

e-mail: ir@kmgep.kzKMG EP. Public Relations (+7 7172 97 79 08)

Elena Pak

e-mail: pr@kmgep.kzBrunswick Group (+44 207 404 5959)

Andrew Mitchell

e-mail: KMGEP@brunswickgroup.comForward-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.