KMG EP OMG Ecological Claim Dismissed

PRESS - RELEASE

Administrative fine of 327.9 billion Tenge dismissed by court

Astana, 19 March 2014. JSC KazMunaiGas Exploration Production ("the Company") is pleased to announce that the Specialized Administrative Court in Aktau of Mangistau region ("the Court") has ruled that the Act on inspection results of the Department of Ecology of Mangistau Region ("Department of Ecology") and the claim for environmental damage in the amount of 327.9 billion Tenge (US$ 1.8bn), which has been brought against JSC "Ozenmunaigas" ("OMG") and referred to in the Company's press release dated 27 February 2014 have been declared as illegitimate and have been dismissed.

There remains the possibility that the Court's ruling may be appealed by the parties and the prosecutor's office. However, given the positive outcome of previous appeals, the Company believes that OMG will successfully appeal this claim in following court proceedings.

Notes to editors

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2013 was 12.4mt (an average of 251kbopd) 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 2012 was 204 mt (1.5bn bbl), out of which 148 mt (1.1bn bbl) relates to Ozenmunaigas and Embamunaigas. 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 May 2013.

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 7915)

Zhuldyz Dzhumadilova

e-mail: p[email protected]

Brunswick Group (+44 207 404 5959)

Andrew Mitchell

e-mail: [email protected]

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