KazMunaiGaz EP Announces Operating Results for the First Quarter of 2013

April 24, 2013

JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces that in the first three months of 2013 it produced 3,002 thousand tonnes of crude oil (247 kbopd), including the Company’s stakes in Kazgermunai (KGM), CCEL and PetroKazakhstan Inc. (PKI) which is 1% less than in the same period of 2012.

Uzenmunaigas JSC (UMG) produced 1,237 thousand tonnes (101 kbopd), about the same as in the first quarter of 2012. Embamunaigas JSC (EMG) produced 691 thousand tonnes (56 kbopd), which is 16 thousand tonnes or 2% more than in the same period of 2012. The total volume of oil produced at UMG and EMG in the first three months of 2013 is 1,927 thousand tonnes (158 kbopd), which is 1% more than in the same period of 2012 and in accordance with production plan.

The Company’s share in the production from KGM, CCEL and PKI for the three months of 2013 amounted to 1,074 thousand tonnes of crude oil (89 kbopd) which is 44 thousand tonnes or 4% less than in the same period of 2012 and in accordance with production plans for these companies.

In the first three months of 2012 the Company’s export and domestic sales from the UMG and EMG were 1,490 thousand tonnes (122 kbopd) and 505 thousand tonnes (41 kbopd) respectively.

The Company’s share in the sales from KGM, CCEL and PKI was 1,094 thousand tonnes of crude oil (92 kbopd), including 972 thousand tonnes (82 kbopd) or 89% supplied to export markets.

NOTE

KMG EP is among the top three Kazakh oil and gas producers. Overall production in 2012 was 12.2mt (an average of 247kbopd) of crude oil, including the Company’s share in Kazgermunai, CCEL and PKI. The total volume of proved and probable reserves, as at the end of 2011 was 226mt (1.7bn bbl), including shares in the associates of about 2.1bn barrels. The Company’s shares are listed on the Kazakhstan Stock Exchange and its GDRs are listed on The London Stock Exchange. The Company raised over US$2bn in its IPO in September 2006. International rating agency Standard & Poor's (S&P) confirmed KMG EP’s “BBB-” corporate credit rating in December 2011.

SOURCE: KazMunaiGaz EP Press Office.