KMG EP operating results for 1Q2013

PRESS-RELEASE

KMG EP announces operating results for the first quarter of 2013

Astana, 23 April, 2013. JSC KazMunaiGas Exploration Production ("KMG EP" or "the Company") announces that in the first three months of 2013 it produced 3,002 thousand tonnes of crude oil (247 kbopd), including the Company's stakes in Kazgermunai (KGM), CCEL and PetroKazakhstan Inc. (PKI) which is 1% less than in the same period of 2012.

Uzenmunaigas JSC (UMG) produced 1,237 thousand tonnes (101 kbopd), about the same as in the first quarter of 2012. Embamunaigas JSC (EMG) produced 691 thousand tonnes (56 kbopd), which is 16 thousand tonnes or 2% more than in the same period of 2012. The total volume of oil produced at UMG and EMG in the first three months of 2013 is 1,927 thousand tonnes (158 kbopd), which is 1% more than in the same period of 2012 and in accordance with production plan.

The Company's share in the production from KGM, CCEL and PKI for the three months of 2013 amounted to 1,074 thousand tonnes of crude oil (89 kbopd) which is 44 thousand tonnes or 4% less than in the same period of 2012 and in accordance with production plans for these companies.

In the first three months of 2012 the Company's export and domestic sales from the UMG and EMG were 1,490 thousand tonnes (122 kbopd) and 505 thousand tonnes (41 kbopd) respectively.

The Company's share in the sales from KGM, CCEL and PKI was 1,094 thousand tonnes of crude oil (92 kbopd), including 972 thousand tonnes (82 kbopd) or 89% supplied to export markets.

NOTES TO EDITORS

KMG EP is among the top three Kazakh oil and gas producers. Overall production in 2012 was 12.2mt (an average of 247kbopd) 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 2011 was 226mt (1.7bn bbl), including shares in the associates of about 2.1bn barrels. The Company's shares are listed on the Kazakhstan Stock Exchange and its GDRs are listed on The London Stock Exchange. The Company raised over US$2bn in its IPO in September 2006. International rating agency Standard & Poor's (S&P) confirmed KMG EP's "BBB-" corporate credit rating in December 2011.

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)

Zhanna Oyshybaeva

e-mail: [email protected]

Pelham Bell Pottinger (+44 (0)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.