KazMunayGas Exploration Production (AO)
KazMunayGas Exploration Production (KMG EP) (Russian Разведка Добыча КазМунайГаз, Kazakh ҚазМұнайГаз Барлау Өндіру ) is a company based in Astana from Kazakhstan. It is a subsidiary of the Kazakh national oil and gas company KazMunayGas. KazMunayGas EP is the largest publicly traded companies in Kazakhstan.
2012 was the oil production of the company 12.2 million tons of oil. Revenue rose to nearly 800 billion tenge and the operating profit was around 161 billion tenge.
History
KazMunayGas Exploration Production was created in 2004 by the merger of UzenMunaiGas and EmbaMunaiGas. Two years later, in 2006 was the transition to the Kazakh Stock Exchange and the London Stock Exchange.
In April 2007 KazMunayGas EP acquired 50 percent of Kazakh oil company Kazgermunai. Back in December of the same year they bought a 50 percent stake Karazhanbasmunai again, another oil company of Kazakhstan. In 2008 was signed the British BG Group signed a memorandum on cooperation in future projects.
In December 2009, the Company acquired 100 percent of KazMunayGas PKI Finance BV for 100.5 million U.S. dollars. This gave KazMunayGas EP also 33 percent stake in the Canadian company PetroKazakhstan.
The end of September 2010 it was announced that one with the two companies Eastern Gate Management Ltd. and Halyk Komir LLP has agreed, the two subsidiaries LLP NBK LLP and SapaBarlauService to take over for a total of 65 million U.S. dollars. This step is to increase the oil production from an KazMunayGas Exploration Production.