PetroChina’s Kazakh Unit Pays $803 Million in Dividends for 2011

AO Mangistaumunaigas (MMGZP), the Kazakh oil producer half-owned by PetroChina, paid out 119.6 billion tenge ($803 million) in 2011 dividends to holders of ordinary shares.

The company also paid 1.2 billion tenge to holders of preferred stock, Aktau-based Mangistaumunaigas said today in a statement to the Kazakhstan Stock Exchange.

PetroChina and KazMunaiGaz National Co. bought the company for $2.6 billion in November 2009. Mangistaumunaigas, which is developing 15 oilfields in Kazakhstan, reported a 40 percent jump in profit to 157.3 billion tenge last year.

-- Editors: Amanda Jordan, Ana Monteiro

To contact the reporter on this story: Nariman Gizitdinov in Almaty at ngizitdinov@bloomberg.net

To contact the editor responsible for this story: Steve Voss at sev@bloomberg.net

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