KMG EP increased oil production by 0.2% in the first half of 2014

July 23. Kazpravda

KMG EP increased oil production by 0.2% in the first half of 2014The volume of production reached 6 106 thousand tons (250 thousand barrels per day).

The JSC EP KazMunaiGas in January-June 2014 increased production of crude oil by 0.2% compared with the same period in 2013, the press service of the company informed.

“In the first six months of 2014, the consolidated production, including shares in the LLP JV KazGerMunai (KGM), CCEL and PetroKazakhstan Inc. (CRP) was 6106 thousand tons (250 thousand barrels per day), which is 0.2% more than in the same period of 2013, – it is stated in the press release.

In addition, the subsidiaries of KMG EP – JSC OzenMunayGaz (OMG) and JSC EmbaMunaiGas (EMG) also increased production volumes. In particular, the OMG extracted 2 627 thousand tons (107 thousand barrels per day) which is by 88 thousand tons (3.6 thousand barrels) or 3% more than in the same period of last year. The EMG extracted 1391 thousand tons (57 thousand barrels per day), and this figure has not changed in comparison with the indicators of 6 months in 2013. As a result, the total production of 2 companies reached 4,018 thousand tons (163 thousand barrels per day).

Oil export of OMG and EMG in the first half of 2014 amounted to 2,938 thousand tons (117 thousand barrels per day), while the supply to the domestic market totaled 1,010 thousand tons (40 thousand barrels per day). The Company expects that the oil supply to the domestic market from UMG and EMG in 2014 will be 1.9 million tons.

It is also reported that the proportion of KMG EP in production of the companies CCEL, KazGerMunai and PetroKazakhstan Inc., in the first 6 months of 2014 amounted to 2,088 thousand tons (86 thousand barrels per day), which is 3% less than in the same period in 2013, and which corresponds to the production plan.

The share of sales’ volumes of companies CCEL, PKI and KGM, owned by KMG EP was 2086 thousand tons (86 thousand barrels per day), including 1,084 thousand tons (44 thousand barrels per day) delivered to export, which is 51% of total sales of the company.

http://www.kazpravda.kz/en/news/view/22823

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