New Board of Directors to be elected in Kazakh KazMunaiGas Exploration Production
Azerbaijan, Baku, Jan. 30 / Trend E. Kosolapova/
New Board of Directors will be elected in Kazakh national oil and gas company KazMunaiGas Exploration Production on March, 19, the company reported on Wednesday.
"The Board of Directors has decided to convene an extraordinary general meeting of company shareholders on March 19, 2013 with the agenda including election of a new Board of Directors," the company said.
The decision was taken at the regular meeting on Jan. 29.
Moreover within the meeting the Board members discussed preliminary financial and operational results for 2012.
The current Board of Directors was elected on March 26, 2010 for a period of three years, which expires on March 25, 2013.
KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2011 was 12.3 million tons (an average of 250 kbopd) of crude oil, including the Company's share in Kazgermunai, CCEL and PetroKazakhstan Inc. The total volume of proved and probable reserves, as of late 2011 was 226 million tons (1.7 billion barrels), including shares in the associates of about 2.1 billion barrels.