Zhaikmunai LLP Appoints New General Director

RNS Number : 4316N

Zhaikmunai LP

06 September 2013

 

ZHAIKMUNAI LLP APPOINTS NEW GENERAL DIRECTOR

Amsterdam, 6 September 2013 - Zhaikmunai L.P. (LSE: ZKM) ("Zhaikmunai"), the oil and gas exploration and production enterprise with assets in north-western Kazakhstan, is pleased to announce the appointment of Mr. Heinz Wendel as General Director of its principal operating subsidiary in Kazakhstan, Zhaikmunai LLP.

Appointment of a New General Director of Zhaikmunai LLP

Mr. Heinz Wendel has succeeded Mr. Vyacheslav Druzhinin as General Director of Zhaikmunai LLP with effect from 13 August 2013.

Mr. Wendel is an experienced oil and gas professional with extensive management and technical experience who joined Zhaikmunai as Chief Operating Officer (COO) in early 2012 with a proven track record of over 30 years. Mr. Wendel is assuming his new role following a planned handover from former General Director Vyacheslav Druzhinin, who held such position since March 1997. Mr. Druzhinin has since been appointed as Director of Governmental Affairs for Zhaikmunai LLP.

Prior to joining Zhaikmunai, Mr. Wendel completed his studies in Azerbaijan (Oil & Gas Institute, Baku) and served in various managerial and technical capacities in Germany, Poland, Russia and Kazakhstan. Mr. Wendel is fluent in German, Russian and English.

Kai-Uwe Kessel, Chief Executive Officer (CEO) of the Zhaikmunai Group, said:

"As COO of Zhaikmunai LLP, Mr. Wendel has proven himself a skilled oil industry professional with a particularly good understanding of the local Kazakhstan working environment. We are now delighted to appoint him as General Director as he assumes this role as a key player in providing stability to the on-going management of the Company.

We also highly value the continued involvement of Mr. Druzhinin as the Company's Director of Governmental Affairs going forward. His unique insight and experience will undoubtedly be of great benefit in the future development of Zhaikmunai".

Further information

For further information please visit www.zhaikmunai.com

Further enquiries

Zhaikmunai LP - Investor Relations

Bruno G. Meere

Kirsty Hamilton-Smith

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JM Hafner

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Alexander Metherell

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Giles Coffey

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David Simonson

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About Zhaikmunai

Zhaikmunai is an independent oil and gas enterprise currently engaging in the production, development and exploration of oil and gas in north-western Kazakhstan. Its Global Depositary Receipts (GDRs) are listed on the London Stock Exchange (Ticker symbol: ZKM). Zhaikmunai's principal producing asset is the Chinarevskoye field, in which it holds a 100% interest and is the operator, through its wholly-owned subsidiary Zhaikmunai LLP. In addition, Zhaikmunai holds a 100% interest in and is the operator of the Rostoshinskoye, Darinskoye and Yuzhno-Gremyachenskoye oil and gas fields. Located in the pre-Caspian basin to the north-west of Uralsk, these exploration and development fields are approximately 60 and 120 kilometres respectively from the Chinarevskoye field.

Forward-Looking Statements

Some of the statements in this document are forward-looking. 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.

Deutsche Bank

Deutsche Bank AG is authorised under German Banking Law (competent authority: BaFin - Federal Financial Supervisory Authority) and authorised and subject to limited regulation by the Financial Conduct Authority (the "FCA"). Details about the extent of Deutsche Bank AG's authorisation and regulation by the FCA are available on request.

VTB Capital

VTB Capital Plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

 

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