KazMunaiGas Exploration & Production (KMG EP) increased its oil production by 0.3% y/y to 9.245mn tonnes in January-September, the company has reported.
The outputs of the company’s main assets differed. Production at Ozenmunaigas increased by 3% y/y to 4.115mn tonnes while output at Embamunaigas was by 6,000 tonnes lower and reached 2.104mn tonnes. The company’s share in production from Kazgermunai, Karazhanbasmunai and PetroKazakhstan Inc amounted to 3.026mn tonnes which means a 3% drop against the result of January-September 2014.
The results are in line with KMG EP policy aimed at keeping production at a steady level despite low oil prices.
KMG EP is among the top three largest oil producers in Kazakhstan. In 2014, the company produced 12.4mn tonnes of oil. KMG EP’s shares are listed on the Kazakhstan Stock Exchange (KASE) and its GDRs on the LSE.
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