KazMunaiGas Exploration Productions says mineral resources tax was reduced for Karazhanbasmunai

/KASE, June 25, 14/ – KazMunaiGas Exploration Productions JSC (Astana), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of June 25, 2014: quote JSC КаzМunaiGas Exploration Production ("КМG EP" or the "Company") is pleased to announce that the Kazakh Government has included the Karazhanbas oil and gas field (in the Tupkaragan District, Mangystau Province) in the list of marginal, hydrocarbon, high-viscosity, water-flooded and depleted fields. It has been included in this category retrospectively, from 18 June 2014 onwards. The Kazakh Government has set the mineral extraction tax rate for Karazhanbas at 0.5%. Previously it was 9-10%. Karazhanbasmunai is developing the Karazhanbas field which is equally owned by KazMunaiGas Exploration Production JSC and CITIC Group. The daily output at Karazhanbasmunai is 19,000 bopd. 2P reserves as at the end of 2013 were 374 million barrels. For further details please contact us at: KMG EP. Investor Relations (+7 7172 97 5433) Asel Kaliyeva e-mail: ir@kmgep.kz KMG EP. Public Relations (+7 7172 97 79 08) Elena Pak e-mail: pr@kmgep.kz Brunswick Group (+44 207 404 5959) Andrew Mitchell e-mail: KMGEP@brunswickgroup.com unquote [2014-06-25]