The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Kairgeldy Kabyldin, Management Board Chairman of KazMunaiGaz National Company.

The parties addressed the current state and development prospects for the strategic partnership in the gas sector. Special attention was paid to executing the Intergovernmental Agreement on joint prospecting and exploration of the Imashevskoye gas and condensate field.

After the meeting Alexey Miller and Kairgeldy Kabyldin signed an Agreement identifying KazRosGaz as the project operator and a Protocol on the issues surrounding execution of the Intergovernmental Agreement to explore the Imashevskoye field.

Background

The explored natural gas reserves of the Republic of Kazakhstan are currently estimated at 3.3 trillion cubic meters.

In June 2002 Gazprom and KazMunaiGaz National Company established a joint venture, KazRosGaz, on a parity basis and registered it in the Republic of Kazakhstan. The JV will deal with natural gas purchase, marketing and processing (at Russian gas treatment plants), and other businesses.

In September 2010 the Intergovernmental Agreement was signed on joint prospecting and exploration and study of the cross-border Imashevskoye gas and condensate field. Pursuant to the Agreement enacted on January 17, 2011, prospecting and exploration will be followed by the reserves estimation. Gazprom and KazMunaiGaz were authorized to implement the Agreement.