Major and interested‑party transactions

Major transactions

In the reporting period, no transactions recognised as major transactions under the Law of the Republic of Kazakhstan On Joint Stock Companies and KMG’s internal documents were made by the Board of Directors or the General Shareholders’ Meeting.

Interested‑party transactions

Kalamkas‑Sea–Khazar–Auezov

On 9 February 2023, KMG and LUKOIL concluded a number of agreements on the development project for the Kalamkas‑Sea–Khazar–Auezov subsoil block in Kazakhstan’s part of the Caspian Sea. These included a parties’ agreement, sale and purchase agreement for a 50% interest in Kalamkas‑Khazar Operating LLP, and a financing agreement for the operator’s activities. The documents set out the subsoil user’s rights and obligations in joint development. Thus, LUKOIL became KMG’s strategic partner in developing this subsoil block of the Caspian Sea shelf. The value of the block that is the subject of the interested‑party transaction is 18% of the total book value of KMG’s assets.