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3 Jun 2009 12:00
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Management changes atΒ production branches ofΒ KMG EPΒ
Astana,Β 3Β JuneΒ 2009.Β KazMunaiGas Exploration Production (KMG EP)Β announces management changes atΒ two of itsΒ production branches.Β
Kairbek Yeleusinov has retired as Director of Uzenmunaigas (UMG), in order to take up a new post. He is replaced by Dovulbay Abilkhanov who succeeds him as the head of UMG.
Isturgan BaimukhanovΒ has beenΒ appointedΒ Director ofΒ EmbamunaigasΒ (EMG). He replacesΒ Bagitkali BisekenΒ who has been transferred to another position.Β
Nurlan Utenov has been appointed First Deputy General Director ofΒ JV Kazgermunai LLPΒ (50%Β owned byΒ KMG EP). Prior to this he workedΒ at KMG EPΒ asΒ Managing Director on Economics and Finance.
NOTES TO EDITORSΒ
KMG EPΒ is among the top three Kazakh oil and gas producers. The overall production in 2008 wasΒ 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 2.1bn 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.Β
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Dovulbay AbilkhanovΒ priorΒ toΒ his appointment asΒ Director of UzenmunaigasΒ worked as First Deputy Director at UMG. He graduated from the Kazakh Polytechnic Institute specialising in Oil & Gas Exploration Technology. From July 2007 until July 2008 he headed Zhaikmunaigas. From 2000 until 2007 he held various positions at Oil and Gas ProductionΒ DepartmentΒ (OGPD) N2 of UMG, as well as at Cruz and UzenneftΒ LLP. He has 29 years experience working in the oil and gas industry.
Isturgan BaimukhanovΒ since 2006Β worked as Chief Technical Officer and later as Chief Executive Officer, Chairman of the Management Board of JV Kazgermunai LLP. He graduated from the Kazakh Polytechnic Institute specialising in Oil & Gas Geology and Exploration.Β FromΒ 1991 to 2006Β heΒ held various positions in Arnaoil LLP,Β Kazmunaigas-TelfΒ andΒ JV Kazpromstavba.Β He alsoΒ worked atΒ Guriev Area Executive Committee and Production Geological Association Gurievneftegasgeologiya.Β
Nurlan UtenovΒ joined KMG EPΒ in May 2004 as Executive Director on Economics and Finance and later held the post of Managing Director on Economics and Finance. After gainingΒ anΒ MBA degree from the KIMEP he gained extensive experience inΒ theΒ oil and gas industry. Since 1998 he worked in various companies including Shlumberger's Dowell subdivision inΒ Mexico, KazTransOil CJSC.Β
For further details please contact us at:Β
Β«KMG EPΒ». Public RelationsΒ (+7 7172 97 7600)Β
Daulet Zhumadil
E-mail:Β pr@kmgep.kzΒ
Β«KMG EPΒ». Investor RelationsΒ (+7 7172 97 5433)Β
Asel KaliyevaΒ
E-mail:Β ir@kmgep.kzΒ
PelhamΒ PRΒ (+44 207 337 15 17)Β
Elena DobsonΒ
E-mail:Β Elena.dobson@pelhampr.comΒ
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. theirΒ 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 theirΒ 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.
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