Register
Login:
Share:
Email Facebook Twitter

Tower CEO gives give operational update on Njonji development well Watch Here

Exclusive: InfraStrata CEO confirms 6 parties interested in offtake agreements
Tower CEO gives give operational update on Njonji development well


Regulatory News


KMG EP reserves update as at 31 December 2017

Wed, 31st Jan 2018 08:40


RNS Number : 4570D
JSC KazMunaiGas Exploration Prod
31 January 2018
 

PRESS-RELEASE

 

KMG EP reserves update as at 31 December 2017

 

Astana, 31 January 2018. JSC K?z?unaiGas Exploration Production ("K?G EP" or the "Company") announces the results of an independent audit of liquid hydrocarbon reserves at the Ozenmunaigas JSC, Embamunaigas JSC and the Ural Oil and Gas LLP (KMG EP's share - 50%) fields as at 31 December 2017. The audit was performed by independent consultant DeGolyer and MacNaughton ("D&M").

According to the D&M report, proved plus probable (2P) reserves of liquid hydrocarbons as at 31 December 2017 were 145 million tonnes (1,065 million barrels), equal to the level at the end of 2016. The reserve replacement ratio (the ratio of increase in reserves to annual production) was 100%.

Proved (1P) reserves of liquid hydrocarbons at 31 December 2017 were 102 million tonnes (754 million barrels), and proved, probable and possible (3P) reserves amounted to 193 million tonnes (1,418 million barrels).

 

Liquid hydrocarbon reserves as of 31 December 2017


Million tonnes

Million barrels


1P

2P

3P

1P

2P

3P

Reserves as at 31 Dec 2016

 93

 145

 196

 684

 1,061

 1,433

Production

 8.3

 8.3

 8.3

 61

 61

 61

Reserves increase

 17.6

 8.3

 5.5

 131

 65

 46

Reserves as at 31 Dec 2017

 102

 145

 193

 754

 1,065

 1,418

Present worth at 10%, US$m




4,253

5,170

5,840

 

The report does not include KMG EP's share in reserves of JV Kazgermunai LLP, CCEL (Karazhanbasmunai) and PetroKazakhstan Inc.

 

NOTES TO EDITORS

KMG EP is among the top three Kazakh oil producers based on the 2017 results. The overall production in 2017 was 11.9 million tonnes (240 kbopd) of crude oil, including the Company's share in Kazgermunai, CCEL and PKI. The Company's volume of proved and probable reserves excluding shares in the associates, at the end of 2016 was 182 million tonnes (1,327 mmbbl). The Company's shares are listed on the Kazakhstan Stock Exchange and the GDRs are listed on the London Stock Exchange and Kazakhstan Stock Exchange. The Company raised over US$2bn at its IPO in September 2006.

For further details please contact us at:
KMG EP. Investor Relations (+7 7172 97 5433)
Saken Shoshanov
e-mail: ir@kmgep.kz 

KMG EP. Public Relations (+7 7172 97 7887)

Bakdaulet Tolegen

e-mail: pr@kmgep.kz 

 

Finsbury (+44 (0)20 7251 3801)

Dorothy Burwell

e-mail: KMGEP@finsbury.com  

 

 

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.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DOCLIFVTLAILVIT





Back to Regulatory News


Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk




Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.