KazMunaiGaz Exploration Production reports growth of proved oil reserves after change of auditor
Edited by Rhod Mackenzie / 2013-10-21 06:48:42
KazMunaiGaz Exploration Production reports on the results of its oil reserves assessment, conducted by the company Miller and Lents, Ltd. (MLL) as of December the 31 of 2012.
KazMunaiGaz Exploration Production (KMG EP) assigned the company KazMunaiGaz Exploration Production as an independent consultant on reserves assessment as of December the 31st of 2012. In 2006-2011, the assessment was made by the company Gaffney, Cline & Associates (GCA). MLL and GCA are international consultants on reserves and make their assessment in accordance with the single international requirements. But consultants used different assumptions in their appraisals that led to a significant divergence in their reserves assessment.
