PJSC Tatneft : TATNEFT and KazMunayGas Continue Joint Projects Implementation

TATNEFT and NC KazMunayGas signed an agreement of intent to implement the Karaton-Sarkamys exploration project in the Atyrau region of Kazakhstan.

The document was signed at the St. Petersburg International Economic Forum by Nail Maganov, General Director of TATNEFT, and Magzum Mirzagaliev, KMG Management Board Chairman. The signing procedure took place in the presence of Kassym-Jomart Tokayev and Rustam Minnikhanov, Presidents of Kazakhstan and Tatarstan.

The agreement reconfirms the intentions of cooperation between NC "KazMunayGas" and TATNEFT in the implementation of the Karaton-Sarkamys exploration project. In the future, in case of successful exploration work, it is expected to increase the resource base of KMG with subsequent crudeoil production.

Nail Maganov, General Director of PJSC TATNEFT:

"Our Company has long-standing good partnership relations with KazMunayGas. We cooperate in various areas. I am sure that TATNEFT's technologies and competencies in geological exploration will help in the successful development of Kazakhstan's fields."

Magzum Mirzagaliyev, Chairman of the KMG Management Board:

"We welcome TATNEFT's intention to act as the KMG's strategic partner in the Karaton-Sarkamys project. TATNEFT is one of the key partners of KazMunayGas. We are actively developing cooperation in a variety of areas - from the supply of goods and equipment to the organization of activities to increase the oil recovery of mature fields."

Reference Information:

The Karaton-Sarkamys subsoil block is located in the Atyrau region quite close to Tengiz, and Korolevskoye active oil fields and a group of JSC Embamunaigas fields.

In February 2022, Karaton-Sarkamys was included in the list of subsoil areas for the exploration and production of hydrocarbons in order to grant the right to subsoil use to JSC NC KazMunayGas.

Forward-looking statements:
This press release contains certain statements regarding future events and expectations, which are forward-looking in nature. Any statement in this press release that is not a historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ materially. PJSC TATNEFT shall assume no obligation to update such forecasts to reflect actual results, changes in assumptions or changes in factors affecting these statements.