Chagala : Office Project Completion

31 May 2016

Re: Chagala Group Completes Reconstruction of Office Building in Uralsk.

Uralsk - Chagala Group Limited (Chagala or the 'Company') announced today that Kurmangazy Development, a Chagala Group subsidiary, in partnership with JSC «NC «SEC «Oral» has completed the project of reconstruction and refurbishing an office building in the city of Uralsk in Western Kazakhstan. The building was commissioned on May 26.

The 5,600 sq. m. gross area building has been completely reconstructed into a Class A office destined to become the headquarters of the Karachaganak Petroleum Operating (KPO) consortium, one of the largest companies involved in the development of gas condensate fields in Kazakhstan.

This project has been completed on time and in line with the Clients' requirements.

Francisco Parrilla, Group's Chief Executive Officer, stated 'It is an honor to be part of this historical moment that so many have been waiting in Uralsk: the first step of the move of KPO into the city of Uralsk. We remain grateful to our client and partners the trust deposited on the Group. We are linked by many years of successful partnership with the developers of the Kashagan field and this new project is our first experience of cooperation with KPO, that we hope with continue in time for many years'.

Chagala is a service company focused on providing long and short term accommodation solutions to domestic and international oil and gas companies developing Kazakhstan's largest hydrocarbon discoveries. With the ownership of hotels, guest houses, serviced apartments, remote site facilities, restaurants and offices in its portfolio, Chagala is well positioned to capitalize on the oil and gas investment being made in Kazakhstan.

For more information:

Francisco Parrilla, Chief Executive
Chagala Group Limited
+ 7 (727) 298 0131

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