/KASE, January 18, 16/ – KazMunaiGas Exploration Production JSC (Astana), whose
shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided
KASE with the following press-release:
quote
KazMunaiGas Exploration & Production ("KMG EP" or the "Company") announces
that Ozenmunaigas's ("OMG") request to temporarily have Mineral Extraction Tax
(MET) relief for 2015, approved for the Uzen and Karamandybas fields in
Mangystau Province, has not been approved by the Kazakh Government. In a low
oil price environment, the Kazakh Government has the ability to make relief to
temporarily reduce the MET on hydrocarbon fields that produce low or no profits.
Had the Company been awarded such a relief, a MET rate of 0.65 percent would
have applied retrospectively throughout 2015 (as opposed to the current
13-percent MET rate).
unquote
The full press-release is available on KASE website, in Russian, at
http://www.kase.kz/files/emitters/RDGZ/rdgz_reliz_180116.pdf
[2016-01-19]