KMG EP BoD elects a new Chairman

KMG EP Board of Directors Elects a new Chairman

Astana, 21 January 2015. On 20 January 2015, the JSC KazMunaiGas Exploration Production ("KMG EP" or the "Company") Board of Directors held a meeting and elected Christopher Hopkinson, the First Deputy Chair of the Management Board of National Company KazMunaiGas ("NC KMG"), as the Chairman of the Board of Directors of KMG EP and as Chairman of the KMG EP Nominations Committee.

The term of the current Board of Directors of KMG EP expires on 13 April 2015.

Notes to editors

Board of Directors of the Company as of 21 January 2015:

Christopher Hopkinson - Chairman of the Board of Directors of KMG EP, First deputy chairman of the Management Board of NC KMG

Abat Nurseitov - CEO, Chairman of the KMG EP Management Board

Timur Bimagambetov - Deputy Chairman of Management Board for offshore and individual oilfield service projects at NC KMG

Asiya Syrgabekova - Managing Director for investment and risk management at NC KMG

Yerzhan Zhangaulov - Managing Director for legal support at NC KMG

Philip Dayer - Independent Non-Executive Director

Edward Walshe - Independent Non-Executive Director

Alastair Ferguson - Independent Non-Executive Director

Board of Directors Nominations Committee as of 21 January 2015:

Christopher Hopkinson - Chairman of the Committee

Edward Walshe - Member of the Committee

Philip Dayer - Member of the Committee

Christopher Hopkinson has been in the oil and gas sector since 1980. Before he joined NC KMG he was the CEO of International Petroleum; General Director at Imperial Energy, and Senior Vice President North Africa at BG Group. He held various jobs at Shell and TNK BP. Mr Hopkinson majored in physics at St Andrews University, in Scotland.

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: [email protected]KMG EP. Public Relations (+7 7172 97 79 08)

Elena Pak

e-mail: [email protected]Brunswick Group (+44 207 404 5959)

Andrew Mitchell

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.