KazMunaiGas Exploration Production (Kazakhstan) announces Y2011 1H operating results

July 7. KASE

KazMunaiGas Exploration Production (Kazakhstan) announces Y2011 1H operating resultsJSC KazMunaiGas Exploration Production, announces that according to preliminary data in the first six months of 2011 it produced 6,311 thousand tonnes of crude oil (258 kbopd) including the Company’s stakes in Kazgermunai (KGM), CCEL, PetroKazakhstan Inc. (PKI) and NBK LLP (NBK), which is 216 thousand tonnes or 3% less than in the same period of 2010.

Uzenmunaigas (UMG) produced 2,733 thousand tonnes (111 kbopd), which is 218 thousand tonnes less than in the same period of 2010. Embamunaigas (EMG) produced 1,382 thousand tonnes (56 kbopd), which is 17 thousand tonnes more than in the same period of last year, thereby the total volume of the oil produced at production facilities of UMG and EMG in the first six months of 2011 is 4,115 thousand tonnes of oil (167 kbopd), which is 201 thousand tonnes or 5% less than in the same period of last year.  The results of the first six months were negatively affected by a number of emergency power cuts in the fields, caused by severe weather conditions in March and April 2011. As a result of the industrial action that commenced on 26 May 2011 the total loss of oil production to date amounts to 174 thousand tones.

The Company’s share in the production volumes from KGM, CCEL, PKI and NBK for the six months of 2011 amounted to 2,196 thousand tonnes of crude oil (91 kbopd) which is 15 thousand tonnes or 1% less than in the same period last year.

http://www.kase.kz/en

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