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Monday, September 25, 2017

KGM EP postpones extraordinary general meeting

JSC KazMunaiGas Exploration Production, one of the top three Kazakh oil and gas producers, postponed its Sept. 3 extraordinary general meeting of shareholders to Oct. 22.

The agenda for the extraordinary general meeting includes the appointment of members of the company's board of directors and the amount of terms of compensation for members of the board.

Materials for the meeting will now be made available on Oct. 7 on the company's website.

KGM EP's overall crude oil production in 2012 was 12.2 mt, including its share in Kazgermunai, CCEL and PKI. At the end of 2011, the company's total volume of proved and probable reserves was 226 mt, including shares in the associates of approximately 2.1 billion barrels.

KGM EP's shares are listed on the Kazakhstan Stock Exchange and its GDRs are listed on the London Stock Exchange. The company raised more than $2 billion from its Sept. 2006 IPO.

Standard & Poor's confirmed KMG EP's BBB- corporate credit rating in Dec. 2011.