New chairman of board elected in Kazakh Ozenmunaigas

Azerbaijan, Baku, June 21 / Trend E. Kosolapova/

The Board of Directors of Kazakh oil and gas company Ozenmunaigas elected the company's Chairman of the Board and Director General, KazMunaiGas Exploration Production (KMG EP) reported.

Deputy General Director on Production of KMG EP Abat Nurseitov was appointed to the post of Chairman of the Board of Directors and acting director of the production branch Ozenmunaigas Abzal Mendibayev was elected to the post of the company's Director General.

Moreover, within the meeting the Board of Directors approved getting the contract on Uzen and Karamandybas oil fields development in Mangistau region, which were rendered by KMG EP.

The Board of Directors also approved the list of documents which will regulate the internal activity of the company.

Ozenmunaigas is a 100 percent subsidiary KazMunaiGas Exploration Production. The company was created by converting the production facility Ozenmunaigas in the company in 2012. Ozenmunaigas worked as production facility of KMG EP in 2004-2012. Proved plus probable reserves of Uzen and Karamandybas hit 166 million tons as of December 31, 2011.

The decision of reorganizing the production facility in a company was taken after the mass riots which hit the city of Zhanaozen in Mangystau region on Dec.16. According to the Kazakh General Attorney Office, 14 people were killed as a result and 64 injured by fire. Buildings and cars were burned and the property of individuals and institutions destroyed. A state of emergency was imposed in Zhanaozen from Dec.17 to Jan 30. The riots were preceded by many months striking launched by oil Ozenmunaigas ' employees over dissatisfaction with their wages.