OREANDA-NEWS. Deutsche Bank today announced its appointment as successor depositary bank for the London Stock Exchange-listed Global Depositary Receipt (GDR) programme of Joint Stock Company KazMunaiGas Exploration Production (KMG EP).

KMG EP is a subsidiary of National Company KazMunaiGas, a state-owned oil and gas company of Kazakhstan. KMG EP was founded in March 2004 and is among the top three Kazakh oil and gas producers, as well as a leading company in the field of hydrocarbon exploration and production in Kazakhstan. The overall production in 2013 was 12.4 million tonnes of crude oil (251 kbopd), including KMG EP's stakes in Kazgermunai, CCEL and PetroKazakhstan Inc. *

Jose Sicilia, Global Head of Global Equity Services at Deutsche Bank, said, “We are delighted with KMG EP's decision to appoint Deutsche Bank as its depositary. This demonstrates our commitment to GDR issuers in Kazakhstan and further strengthens our position as a leading global depositary bank”.