14 Apr 2016 07:00
PRESS RELEASE
KMG EP Elects New Board of Directors
Astana, 14 April 2016. JSC KazMunaiGas Exploration Production ("KMG EP" or the "Company") held an extraordinary general meeting of its shareholders ("EGM"), where the new Board was elected for a term to May 25th, 2017 inclusive. The EGM appointed Mr Gustave Louis Eugene van Meerbeke, representative from the National Company KazMunayGas ("NC KMG") to the Board, replacing Mr Yerzhan Zhangaulov.
During the extraordinary meeting of the Board of Directors, held on the same day, Mr Christopher Hopkinson, the First Deputy Chairman of the Management Board of NC KMG, was re-appointed as the chairman of the Board of Directors of KMG EP.
The members of the KMG EP Board of Directors as at 13 April 2016:
· Christopher Hopkinson - representative from NC KMG; First Deputy Chairman of the Management Board of NC KMG - Chairman of the Board of Directors of KMG EP;
· Igor Goncharov - representative from NC KMG; Managing Director for Operational Production Assets - Chief Engineer at NC KMG;
· Asiya Syrgabekova - representative from NC KMG; Managing Director for Investment & Risk Management at NC KMG;
· Gustave Louis Eugene van Meerbeke - representative from NC KMG; independent consultant, oil and gas;
· Kurmangazy Iskaziyev - Chief Executive Officer (Chairman of the Management Board of KMG EP);
· Philip Dayer - Independent Non-Executive Director;
· Edward Walshe - Independent Non-Executive Director;
· Alastair Ferguson - Independent Non-Executive Director.
At the same meeting Board of Directors elected committee members under the Board.
The members of the Audit Committee under the KMG EP Board of Directors:
Philip Dayer - Chairman of the Committee
Alastair Ferguson - Member of the Committee
Edward Walshe - Member of the Committee
The members of the Nominations Committee under the KMG EP Board of Directors:
Edward Walshe - Chairman of the Committee
Christopher Hopkinson - Member of the Committee
Philip Dayer - Member of the Committee
The members of the Remuneration Committee under the KMG EP Board of Directors:
Alastair Ferguson - Chairman of the Committee
Philip Dayer - Member of the Committee
Edward Walshe - Member of the Committee
The members of the Strategic Planning Committee under the KMG EP Board of Directors:
Edward Walshe - Chairman of the Committee
Igor Goncharov - Member of the Committee
Kurmangazy Iskaziyev - Member of the Committee
Alastair Ferguson - Member of the Committee
Philip Dayer - Member of the Committee
Notes to editors
Gustave Louis Eugene van Meerbeke has been Independent Advisor, oil and gas, working part time on selected reserve based lending deals for various banks since 2013. He has a doctoral (=MSc) degree in Geology from the State University of Leiden, the Netherlands. In 1999-2011 served as Senior Advisor Energy & Resources, Oil & Gas; sector banker Oil and Gas (Director) at RBS-GBM (previously ABNA AMRO bank NV).
KMG EP is among the top three Kazakh oil producers. The overall production in 2015 was 12.4 million tonnes (251 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 2015 was 152 million tonnes (1,115 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 Shoshanov
email: ir@kmgep.kz
KMG EP Public Relations (+7 7172 97 79 08)
Elena Pak
e-mail: pr@kmgep.kz
Brunswick Group (+44 207 404 5959)
Carole Cable
e-mail: KMGEP@brunswickgroup.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.