20 Oct 2017 07:00
KMG EP held an extraordinary general meeting of its shareholders
Astana, 20 October 2017. JSC KazMunaiGas Exploration & Production ("KMG EP" or "Company") held an extraordinary general meeting of its shareholders ("EGM") on 19 October 2017.
In accordance with EGM decision, Mr. Oleg Karpushin, Executive Vice President for Production, Exploration and Oilfield Services at JSC National Company KazMunayGas was elected as a member of the KMG EP Board of Directors replacing Mr. Igor Goncharov, whose duties as a member of the Board were duly terminated.
In addition, the shareholders approved additional amounts and terms of remuneration for the Independent Non-Executive Directors of KMG EP for discharging their duties.
Notes to Editors
Oleg Karpushin, Executive Vice President for Production, Exploration and Oilfield Services at JSC National Company KazMunayGas. Graduated with honors from Gubkin Russian State University of Oil and Gas with the specialization of mining engineer and holds a Global Executive MBA degree from Duke University's Fuqua School of Business. Held executive positions in the Shell group of companies for over 11 years. These companies included Salym Petroleum Development N.V., Shell Petroleum Development Company of Nigeria, Sakhalin Energy Investment Company. Also worked as Deputy Chairman of the Management Board - operations director for PAO Novatek.
KMG 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.