OREANDA-NEWS. January 23, 2013. JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces that in 2012 it produced 12,191 thousand tonnes of crude oil (247 kbopd), including the Company’s stakes in Kazgermunai (KGM), CCEL and PetroKazakhstan Inc. (PKI) which is 150 thousand tonnes or 1% less than in 2011.

JSC Uzenmunaigas (UMG) produced 4,950 thousand tonnes (100 kbopd), which is 131 thousand tonnes less than in 2011. JSC Embamunaigas (EMG) produced 2,816 thousand tonnes (57 kbopd), same as in 2011. The total volume of the oil produced at UMG and EMG is 7,766 thousand tonnes of oil (156 kbopd).

The Company’s share in the production from KGM, CCEL and PKI for 2012 amounted to 4,425 thousand tonnes of crude oil (90 kbopd), about the same as in 2011 and in accordance with production plans for these companies.

In 2012 the Company’s export and domestic sales from the UMG and EMG were 6,091 thousand tonnes (122 kbopd) and 1,646 thousand tonnes (33 kbopd) respectively. The Company’s share in the sales from KGM, CCEL and PKI was 4,410 thousand tonnes of crude oil (92 kbopd), including 3,428 thousand tonnes (71 kbopd) or 78% of total sales supplied to export markets.

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2012 was 12.2mt (an average of 247 kbopd) 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 2.1 bn barrels. 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 USD 2bn in its IPO in September 2006. The International rating agency Standard & Poor's (S&P) confirmed KMG EP’s “BBB-” corporate credit rating in December 2011.