Zhaikmunai announces mechanical completion
of its Gas Treatment Facility
DOUGLAS - September 30, 2010 - Zhaikmunai LP (LSE : ZKM ) ("Zhaikmunai"),
the oil and gas exploration, development and production business based
in northwestern Kazakhstan, today announces that on 29th September 2010
the Working Commission composed of representatives from Zhaikmunai, its
contractor KazStroyService (KSS), general project designer NipiNeftiGaz
and seven governmental authorities of the Republic of Kazakhstan issued
its formal decision declaring that the construction of Zhaikmunai's Gas
Treatment Facility has been completed in accordance with Kazakh
standards and is ready to be presented to the State Acceptance
Commission for final acceptance.
Having received such declaration from the Working Commission,
Zhaikmunai will begin filling the facility with gas during the coming
days and will simultaneously commence the commissioning of the
facility. Zhaikmunai expects final completion of the facility to occur
in approximately two months.
The facility will enable Zhaikmunai to process associated gas and gas
condensate. The facility was constructed by Kazakh engineering company
KSS and US-based Exterran, a global leader in natural gas compression.
Exterran designed, engineered and manufactured the main equipment for
the facility while KSS was responsible for civil works, equipment
erection, electro-mechanical works and project management.
Zhaikmunai's management expects the facility to bring the company's
total production upon full commissioning up to 48,000 boe per day from
its current levels of 7.400 boe per day.
Kai-Uwe Kessel, CEO of Zhaikmunai said:"We are delighted to have reached
our target of completing the
construction of the Gas Treatment Facility. Now we can start to fill
the plant with gas and we expect to be able to ramp up production from
the Chinarevskoye Field in the near future".
For further information please visit www.zhaikmunai.com.
Further enquiries
Zhaikmunai LP
Bert Jordens, Investor Relations Officer
jordens@zhaikmunai.com +44 (0) 1624 68 21 79
About Zhaikmunai
Zhaikmunai is an independent oil and gas enterprise currently engaging
in the exploration and development and production of oil and gas. It is
listed on the the London Stock Exchange (Ticker symbol: ZKM). Its
principal producing asset is the Chinarevskoye Field located in
northwestern Kazakhstan. Zhaikmunai L.L.P., a wholly-owned subsidiary
of Zhaikmunai L.P., holds a 100% interest in and is the operator of the
Production Sharing Agreement for the Chinarevskoye Field.
Forward-Looking Statements
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Forward-looking statements include statements regarding the intent,
belief and current expectations of the Partnership or its officers with
respect to various matters. When used in this document, the
words"expects,""believes,""anticipates,""plans,""may,""will,""should"
and similar expressions, and the negatives thereof, are intended to
identify forward-looking statements. Such statements are not promises
or guarantees, and are subject to risks and uncertainties that could
cause actual outcomes to differ materially from those suggested by any
such statements.
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