General Information

In accordance with the Instruction of the President of the Republic of Kazakhstan N.A.Nazarbayev No. 05-2.13 dated 15 November 2003 KazMunayGas NC JSC (hereinafter referred to as KMG) in cooperation with Korean Consortium has been developing bilateral cooperation.

On 12 March 2004 KMG and Korean Consortium signed Memorandum of Understanding, according to which joint appraisal of Makhambet rise (4 areas – Makahmbet, Satpayev, Zhambyl, Zhetysu) located in the north part of the KSCS was carried out.

On 20 September 2004 as a result of the work KMG and Korean Consortium signed Protocol, where recognized Zhambyl area as prospective area.

On 24 February 2005 according to the terms and conditions of Memorandum of Understanding the Parties negotiated and signed Head of Agreement for Cooperation.

On 21 April 2008 Contract for hydrocarbon exploration on Zhambyl area No. 2609 (hereinafter referred to as Contract) was signed by and between Ministry of Energy and Mineral Resources and KMG.

On 14 May 2008 during visit of the Prime-Minister of South Korea to Kazakhstan KMG and KC Kazakh B.V. signed Joint Operating Agreement, Financing Agreement, Agreement on Assignment of subsurface use right under the Contract, Supplement No. 1 to Agreement on Assignment of subsurface use right under the Contract. One of the terms of the agreement is an obligation of KC Kazakh B.V. to provide for 100% financing under the project during Exploration and Appraisal including KMG share.

On 5 January 2009 Supplement No. 1 to Contract was signed and registered (KC Kazakh B.V. joining the project).

On 4 March 2009 Zhambyl Petroleum LLP — 100% daughter company of KazMunayTeniz OOC JSC was registered at Atyrau Legal Department.

On 22 April 2009 Zhambyl Petroleum LLP joined JOA as Operator in accordance with Appointment and Adherence Agreement to JOA, which is Appendix No. 2 to JOA.

On 2 September 2010 Supplement No. 2 to Contract (postponement of two exploratory wells drilling from 2012 to 2012 and 2013 accordingly, additional seismic acquisition for the purposes of more detailed survey of Zhambyl area geological structure and selection of the best drilling location) was signed.

On 10 April 2013 Supplement No3. To Contract (with respect to revision of the wording of Contract for exploration due to adoption of Law of the Republic of Kazakhstan on subsoil and subsoil use No. 291-IV ZRK dated 24 June 2010) was signed.