KMG EP Announces Extraordinary General Meeting of Shareholders
OREANDA-NEWS. JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces an extraordinary general meeting of shareholders (EGM) to be held on 14 April 2014. EGM agenda includesappointment of members of Company's Board of Directors and amount and terms of compensation for members of Company's Board of Directors.
The materials on the agenda will be available from 28 March2014 on KMG EP's web-site: <http://www.kmgep.kz/eng/investor_relations/shareholder_meetings/>.
KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2013 was 12.4mt (an average of 251kbopd) of crude oil, including the Company's share in Kazgermunai, CCEL and PKI. The Company's total consolidated volume of proved and probable reserves including shares in the associates, as at the end of 2012 was 204 mt (1.5bn bbl), out of which 148 mt (1.1bn bbl) relates to Ozenmunaigas and Embamunaigas. 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 May 2013.
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