2009-10-28-2009-09-23

To acquire 33% stake in company operating in Kazakhstan.

JSC KazMunaiGas Exploration Production plans to acquire a 33% stake in PetroKazakhstan Inc. from Kazakhstan national company KazMunaiGas for US$100.5 million plus additional debt assumption of US$831 million for a total deal value of US$931.5 million. KMG EP will acquire a 100% stake in KazMunaiGaz PKI Finance BV, which in turn owns 33% of PetroKazakhstan. PetroKazakhstan is a vertically integrated energy group with stakes in 16 oil fields. CNPC Exploration and Development Co. Ltd. owns 67% of PetroKazakhstan.