News 2011
#1 (67) February 2011KMG EP
The development strategy for 2010-2020 has been approved at the session of the board of directors of JSC KazMunayGas Exploration Production (KMG EP), is informed in the company message.
According to the approved strategy, "the company's main priorities at this stage include increase in efficiency of production and exploration and participation in offshore projects on the Caspian Sea, as well as expansion of the industrial base due to new acquisitions in the territory of Kazakhstan and outside it."
"The strategy for the company's development for 2010-2020, approved by the board of directors, allows KMG EP to have new priorities in the year 2011 and to build its operational policy given the long-term prospects. It is especially important that the huge work, connected among others, with the growth of capital investments in 2011, will bring its fruits in a medium-term prospect allowing KMG EP to strengthen its lead positions in the Kazakhstan's oil and gas industry," says Kenzhebek Ibrashev, CEO of KMG EP.
The board of directors also has listened to the information on the course of approval of the earlier announced deals on acquisition of shares in JSC Mangistaumunaigas, Kazakhturkmunai LLP and Kazakhoil-Aktobe LLP. It is noted "that KMG EP still intends to complete these deals with the company's management putting all efforts for this. At present, the above-named deals are at the stage of approval by the appropriate state bodies of the RK".