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BRIEF-KMG EP to boost 2018 capex, sees positive cash flow up to 2022
December 4, 2017 / 7:13 AM / 8 days ago

BRIEF-KMG EP to boost 2018 capex, sees positive cash flow up to 2022

Dec 4 (Reuters) - KazMunaiGas Exploration Production says:

* ‍The board of directors has approved the company’s 2018 budget and 2018-2022 business plan.​

* The company is planning free cash flows to be positive in the 2018-2022 period​.

* Capital expenditure in 2018 is planned to be 142 billion tenge ($418 million), 4 pct higher than planned capital expenditure for 2017.

* Budget for 2018 assumes Brent price of $55 per barrel and exchange rate of 340 Tenge per U.S. dollar​. Further company coverage: (Reporting by Olzhas Auyezov)

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