Kazakh oil company KMG E&P says to halve 2009 capex

ALMATY, Dec 25 (Reuters) - Kazakh oil producer KazMunaiGas Exploration and Production (KMG E&P) (KMGq.L) plans to roughly halve next year's capital expenditure to 36.5 billion tenge ($296 million), it said on Thursday.

"This reduction in capex compared to 2008 is considered prudent by the board in the current global economic situation," the London-listed company said in a statement following a board of directors meeting. (Writing by Maria Golovnina; Editing by Gleb Bryanski)