28th Jul 2009 07:39
PRESS-RELEASE
KMG EP announces preliminary operating results for the 1H09
Astana, 28 July 2009. JSC KazMunaiGas Exploration Production ("KMG EP" or "the Company"), announced today that in the first half of 2009 it produced 5,673 thousand tonnes of crude oil (230.7 kbopd), which includes the Company's stakes in both JV Kazgermunai LLP ("Kazgermunai") and CCEL ("Karazhanbasmunai"). This is 226 thousand tonnes, or 3.8%, less than in the same period of 2008.
During the first half of the year 4,422 thousand tonnes of oil (179.8 kbopd) were produced at production facilities of Ozenmunaigas and Embamunaigas. This is 271 thousand tonnes, or 5.8% less than for the same period last year.
In 2009 the volume of production at Uzen and Emba was planned at 9.14 million tonnes (184.32 kbopd). In 2009 at Kazgermunai it is planned to produce 3.18 million tonnes (67 kbopd) and at CCEL - 1.8 million tonnes (33 kbopd). KMG EP owns 50% stake in both companies.
According to preliminary data, in the first half of 2009 the Company supplied 4,334 thousand tonnes of crude oil to customers (176.2 kbopd), excluding the share in supply from Kazgermunai and Karazhanbasmunai. Of this amount, 3,580 thousand tonnes (145.6 kbopd) were exported.
The Company's share in the sales volumes from Kazgermunai and CCEL was 1,176 thousand tonnes of crude oil (47.4 kbopd) in the first half of 2009, including 1,022 thousand tonnes (41.1 kbopd) supplied to export markets. This represents 1.8% and 1.9% increase compared to the same period of 2008 respectively.
Notes to Editors
KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2008 was 11.95mmt (an average of 240kbopd) of crude oil, including the Company's share in Kazgermunai and CCEL. The total volume of proved and probable reserves as at the end of 2008 is 241mmt (1.8bn bbl), excluding the relevant proportion of reserves at Kazgermunai and CCEL; including the share of reserves from Kazgermunai and CCEL the 2P reserves are over 2.1 bn barrels. The Company's shares are listed on Kazakhstan Stock Exchange and the GDRs are listed on London Stock Exchange. The Company raised approximately US$2bn in its IPO in September 2006. International rating agency Standard & Poor's (S&P) confirmed the Corporate Governance Score of KMG EP at "CGS 6" and confirmed its "BB+" corporate credit rating.
For further details please contact us at:
«KMG EP». Public Relations (+7 7172 97 7600)
Daulet Zhumadil
E-mail: [email protected]
«KMG EP». Investor Relations (+7 7172 97 5433)
Asel Kaliyeva
E-mail: ir@kmgep.kz
Pelham PR (+44 207 337 15 17)
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.
Related Shares:
Kazmunaigaz Exploration