AKSAI, Western Kazakhstan Oblast, 26 November 2005 – Karachaganak Petroleum Operating B.V. (KPO) today announced that 48 Kazakh employees from its Operations department successfully completed a two-year training course under the Supervisory Management Programme (SMP), accredited by the UK Chartered Management Institute.

KPO Operations Director Cameron Crawford said: “The management training complements on-the-job technical training that KPO provides to its local personnel as part of the Nationalisation Programme. The participation in the SMP course has helped our Kazakh employees to accelerate the development of their supervisory skills and this will undoubtedly play a positive role in their future careers”.

The training was done with the help of the best Kazakh and international teachers. During the course the participants on the programme studied various disciplines necessary for a successful supervisor, including the organising of team work, information management, risk management and the delegation of responsibility.

KPO Development and Nationalisation Section Head Oksana Rastorgueva said: “The SMP course is based on best international training practices which have proven very efficient. Following the success of the first enrolment KPO decided to run an additional SMP course in order to give an opportunity to other employees of the company to study under this programme”.

Several years ago KPO moved to the operational phase, which will continue through to 2038. For this, the company needs to build a team of Kazakh specialists capable of running the complex production operations, which is one of the main priorities of KPO today.

The KPO training strategy is developed to address requirements critical to the short and long term success of the company. This includes developing the professional qualifications of the Kazakh employees as well as fostering their leadership and managerial skills.

Currently, four local employees of KPO are undertaking a Master’s Degree course in Petroleum Engineering at the Kazakh British Technical University.

In addition, six employees from the Human Resources department are following a training course developed by the Chartered Institute for Personnel Development (UK) and 33 personnel are studying financial management on a course run by the Chartered Institute of Management Accountants (UK).