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3 Jun 2009 12:00
Management changes at production branches of KMG EP
Astana, 3 June 2009. KazMunaiGas Exploration Production (KMG EP) announces management changes at two of its production branches.
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 Baimukhanov has been appointed Director of Embamunaigas (EMG). He replaces Bagitkali Biseken who has been transferred to another position.
Nurlan Utenov has been appointed First Deputy General Director of JV Kazgermunai LLP (50% owned by KMG EP). Prior to this he worked at KMG EP as Managing Director on Economics and Finance.
NOTES TO EDITORS
KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2008 was 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.
Dovulbay Abilkhanov prior to his appointment as Director of Uzenmunaigas 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 Production Department (OGPD) N2 of UMG, as well as at Cruz and Uzenneft LLP. He has 29 years experience working in the oil and gas industry.
Isturgan Baimukhanov since 2006 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. From 1991 to 2006 he held various positions in Arnaoil LLP, Kazmunaigas-Telf and JV Kazpromstavba. He also worked at Guriev Area Executive Committee and Production Geological Association Gurievneftegasgeologiya.
Nurlan Utenov joined KMG EP in May 2004 as Executive Director on Economics and Finance and later held the post of Managing Director on Economics and Finance. After gaining an MBA degree from the KIMEP he gained extensive experience in the oil and gas industry. Since 1998 he worked in various companies including Shlumberger's Dowell subdivision in Mexico, KazTransOil CJSC.
For further details please contact us at:
«KMG EP». Public Relations (+7 7172 97 7600)
Daulet Zhumadil
E-mail: pr@kmgep.kz
«KMG EP». Investor Relations (+7 7172 97 5433)
Asel Kaliyeva
E-mail: ir@kmgep.kz
Pelham PR (+44 207 337 15 17)
Elena Dobson
E-mail: Elena.dobson@pelhampr.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.
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