ASTANA, 29 November 2005 – Karachaganak Petroleum Operating B.V. (KPO) conducted a workshop on 25 November for senior representatives of the Ministry of Environment Protection of the Republic of Kazakhstan.

The KPO delegation headed by the General Director Paolo Campelli made a presentation on the company’s achievements in environment protection and new ecological projects. The report has demonstrated KPO’s commitment to environmental excellence at the Karachaganak field.

Following the workshop, Mr. Jambul Bekzhanov, Vice-Minister of Environment Protection, said that “KPO is one of the few companies which prove their commitment to protect the environment and to preserve the ecological balance in the area of their operations”.

“During the first nine months of this year alone, KPO has invested nine million dollars in ecological projects and is delivering all its commitments stipulated in the Memorandum of Mutual Understanding”, - the Vice Minister noted.

Under the Memorandum of Mutual Understanding, signed on 29 June 2005 by the Minister of Environment Protection Mrs. Aitkul Samakova, WKO Akim Nurgali Ashimov and KPO General Director Paolo Campelli, KPO will implement a number of new projects towards further improvement of the ecological balance in the Karachaganak field.

Commenting on the workshop, KPO Corporate Affairs and HSE Controller Nurzhan Kamalov noted that “KPO has been demonstrating world-class environmental performance by drawing upon best practices used by all four of its partner companies. KPO aims to be recognised as a leader among the country’s petroleum industry in the area of environment”.

Over the past three years, KPO has invested over $100 million in various environmental initiatives.