11 Oct 2017 07:00
Increase of processing fee at LLP JV "Caspi Bitum"
Astana, 11 October 2017. JSC KazMunaiGas Exploration Production ("KMG EP" or the "Company") announces that the processing fee at LLP JV "Caspi Bitum" will increase from 12 258 Tenge per tonne to 18 000 Tenge per tonne starting from 1 November 2017, according to a letter received from JSC NC "KazMunayGas".
JSC "Karazhanbasmunai" ("CCEL"), where KMG EP holds a 50% stake, supplies crude oil to LLP JV "Caspi Bitum" for processing. In the first six months of 2017, CCEL supplied 294 thousand tonnes of crude oil to the bitumen plant for processing.
Notes to EditorsKMG EP is among the top three Kazakh oil producers based on the 2016 results. The overall production in 2016 was 12.2 million tonnes (245 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. 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 Shoshanove-mail: ir@kmgep.kz
KMG EP. Public Relations (+7 7172 97 78 87)Bakdaulet Tolegene-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.