OREANDA-NEWS. JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces that on 18 March 2014 during the meeting of the Board of Directors of KMG EP, Mr.DastanAbdulgafarov, the Managing Director for Business Development, was elected as a member of the Management Board of KMG EP.

This election is in line with strategic planning, corporate governance, investment analysis, and M&A projects that are among the top priorities of KMG EP strategy.

Management Board of the Company as of 8 April 2014:

AbatNurseitov - Chief Executive Officer;

KairbekYeleusinov - Deputy CEO for Operations;

Benjamin Fraser - Finance Director - Finance Controller;

Malik Saulebai - Managing Director for Legal Issues;

BotagozAshirbekova - HR Managing Director:

DastanAbdulgafarov - Managing Director for Business Development.

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.