Kazakh KazMunaiGas Exploration Production to pay $730 million dividends in 2013
Baku, Azerbaijan, May 14
By Elena Kosolapova - Trend:
Kazakh KazMunaiGas Exploration Production (KMG EP) company will pay 135 billion tenge (approximately $730 million) dividends for 2013, the company reported on May 14.
It was approved by the company's shareholders at the Annual General Meeting of shareholders on May 13.
"The shareholders approved the dividend for 2013 of 1,976 tenge (182.02 tenge = $1) (including taxes to be withheld in accordance with the legislation of Kazakhstan) per one ordinary and one preferred share of KMG EP," the company said.
The payment of the annual dividend for 2013 will commence on June 24, 2014 and will be made to shareholders of record as at 23:59 of May 23, 2014.
Moreover the shareholders approved the Financial Statements and the Annual Report for 2013.
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 251,000 barrels of oil per day) 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 billion barrels), out of which 148.8 million tonnes (1.1 billion barrels) relates to Ozenmunaigas, Embamunaigas, and Ural Oil and Gas LLP (Rozhkovskoye field, Fyodorovskiy block).