Key Developments: Razvedka Dobycha KazMunayGaz AO (KMGq.L)

KMGq.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Razvedka Dobycha KazMunayGaz AO updates on environmental damage claim
Sunday, 22 Jun 2014 10:05pm EDT 

Razvedka Dobycha KazMunayGaz AO:Says that the company and Embamunaigas have appealed the results of an inspection conducted by the Prosecutor's Office of Atyrau Province and citation filed by the Environmental Department of Atyrau Province.The appeal concerned the claim for environmental damage of 37.2 billion Kazakhhstani tenges ($201 million) with General Prosecutor's Office of Kazakhstan and with Specialized Interdistrict Economic Court of Atyrau Province.Following the appeal, the Environmental Department of Atyrau Province filed a new citation with the amount of the environmental damage reduced to 1.9 billion tenges ($10.4 million).  Full Article

Razvedka Dobycha KazMunayGaz AO recommends FY 2013 dividend
Tuesday, 18 Mar 2014 08:00pm EDT 

Razvedka Dobycha KazMunayGaz AO:Recommends a dividend for the 2013 earnings per ordinary and preferred share of 1,976 Kazakhhstani tenges which is equivalent to about 135 billion tenges (about $730 million).If approved, the payment of the 2013 annual dividend will be made starting June 24 to shareholders of record as of May 23.  Full Article

JSC KazMunaiGas Exploration Production announces dismissal of administrative fine
Friday, 7 Mar 2014 12:00am EST 

JSC KazMunaiGas Exploration Production:Further to press release of Feb 27, reconfirming appeal of administrative fine of 212.6 billion Kazakhhstani tenges against JSC Ozenmunaigas (OMG), the company announces ruling of Specialized Administrative Court in Aktau of Mangistau region.The court has ruled that the case has been dismissed and there is no avenue for appeal, but there remains the remote possibility that the court's ruling can be revisited by the prosecutor's office.As previously reported, OMG continues with its legal action to appeal the claim for environmental damage of 327.9 billion tenges in relation to the disposal of contaminated soil.The disposal of contaminated soil resulted from past activities on the site and did not occur due to activity by either OMG or KMG EP.Currently the company believes that OMG will successfully appeal this allegation.  Full Article

JSC KazMunaiGas Exploration Production announces claim for environmental damage
Thursday, 27 Feb 2014 02:00am EST 

JSC KazMunaiGas Exploration Production:Announces Department of Ecology of Mangystau Region (Department of Ecology) has presented JSC Ozenmunaigas (OMG) with a claim for environmental damage for the amount of 327.9 bln Kazakhstani tenge in relation to the disposal of contaminated soil.This claim is made on the same basis as an administrative fine of 212.6 bln Kazakhstani Tenge, and an environmental damage fine for the amount of 59.3 bln Kazakhstani Tenge.Both claims have been successfully appealed during 2013 and Feb 2014.OMG disputes the allegation and is taking legal action to appeal the claim.The disposal of contaminated soil resulted from past activities on the site and did not result from activity by either OMG or KMG EP.Given the positive outcome of previous appeals, the company believes that OMG will successfully appeal this allegation.  Full Article

Razvedka Dobycha KazMunayGaz AO reaffirms FY 2014 production guidance
Wednesday, 22 Jan 2014 02:10am EST 

Razvedka Dobycha KazMunayGaz AO:Sees FY 2014 production at OMG and EMG is expected to be 5,350 thousand tonnes (108kbopd) and 2,820 thousand tonnes (57kbopd), respectively.  Full Article

Moody's Affirms Razvedka Dobycha KazMunayGaz AO's and KazTransOil AO's Ratings; Changes Outlook to Positive
Thursday, 22 Aug 2013 01:03am EDT 

Kazakhstan Stock Exchange announced that Moody's Investors Service (Moody's) has changed to positive from stable the outlook on the Baa3 ratings of seven corporate government-related issuers (GRIs) operating in the oil and gas sector, including Razvedka Dobycha KazMunayGaz AO and KazTransOil AO. Concurrently, Moody's affirmed these ratings. The rating actions follow Moody's revision of the outlook for Kazakhstan's sovereign ratings to positive from stable on August 16, 2013.  Full Article

Razvedka Dobycha KazMunayGaz AO Announces Change of Chairman of Board of Directors-Interfax
Friday, 12 Jul 2013 02:30am EDT 

Interfax reported that Mr. Daniyar Berlibayev has been elected Chairman of the Board of Directors of Razvedka Dobycha KazMunayGaz AO (KazMunaiGas Exploration Production, KMG EP), the Company says in a press release. Mr. Berlibayev replaced in office Mr. Lyazzat Kiinov. Mr. Berlibayev was elected member of KMG EP's board of directors by an extraordinary general meeting of shareholders on July 9, 2013. The next day the board of directors elected him as chairman.  Full Article

Razvedka Dobycha KazMunayGaz AO Signs Memorandum of Understanding with Petrofac Limited
Sunday, 30 Jun 2013 08:00pm EDT 

Razvedka Dobycha KazMunayGaz AO (KazMunaiGas Exploration Production, KMG EP) announced that it has signed a Memorandum of Understanding (MOU) with Petrofac Limited (Petrofac). The MOU allows the parties to explore opportunities to improve the efficiency of oil production and increase production from the mature Emba fields of KMG EP’s 100% subsidiary EmbaMunaiGas JSC (EMG). Under the terms of the MOU, Petrofac intends to evaluate the Emba fields and to submit an offer for the long term improvement of the management and production in selected Emba fields in order to progress a potential Production Enhancement Contract.  Full Article

Razvedka Dobycha KazMunayGaz AO Recommends FY 2012 Dividend Payment
Wednesday, 17 Apr 2013 08:00pm EDT 

Razvedka Dobycha KazMunayGaz AO (KMG EP) announced that on April 18, 2013 its Board of Directors recommended a dividend with regards to the fiscal year 2012 earnings per ordinary and preferred share of KMG EP of KZT 1,619 (including taxes withheld in accordance with the legislation of Kazakhstan) which is equivalent to about KZT 110 billion (approximately USD 740 million). This will be voted upon at the Annual General Meeting of Shareholders (AGM) on May 21, 2013. If approved by the AGM, the payment of the 2012 annual dividend will be made starting on July 1, 2013 to shareholders of record as at May 31, 2013.  Full Article

Razvedka Dobycha KazMunayGaz AO Appoints New Chief Executive Officer
Wednesday, 23 Jan 2013 05:03am EST 

Razvedka Dobycha KazMunayGaz AO announced that Mr. Abat Nurseitov has been appointed the General Director (CEO) by the Board of Directors. Mr. Abat Nurseitov previously worked as the Deputy General Director for Production. He has succeeded Mr. Alik Aidarbayev who resigned due to his appointment as Akim of Mangistau region.  Full Article

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