OREANDA-NEWS. KazMunaiGas Exploration Production (“KMG EP” or the “Company”) held its Annual General Meeting of shareholders.

The shareholders approved the Financial Statements and the Annual Report for 2013.

The shareholders also approved the dividend for 2013 of 1,976 Tenge (including taxes to be withheld in accordance with the legislation of Kazakhstan) per one ordinary and one preferred share of KMG EP. The total dividend for 2013 is anticipated to be in the region of 135 billion Tenge (approximately USD 730 million).

The payment of the annual dividend for 2013 will be made to shareholders of record as at 23:59 of May 23, 2014 and will commence on June 24, 2014.

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2013 was 12.4 million tonnes (an average of 251 kbopd) 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 2013 was 200 million tonnes (1.5 bn bbl), out of which 148.8 million tonnes (1.1 bn bbl) relates to Ozenmunaigas, Embamunaigas, and UOG (Rozhkovskoye field, Fyodorovskiy block). 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.