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.
Related Articles
INTERVIEW: Biomethane can make up Ukraine’s gas shortfall - Ukraine Bioenergy Association
Ukraine is rapidly developing its biomethane sector with ambitions to become a major European supplier. Georgii Geletukha, head of the board at the Bioenergy Association of Ukraine, told bne ... more
Poland’s Orlen signs deal to supply Ukraine with LNG
Ukraine’s Naftogaz will purchase 100mn cubic metres of LNG from Poland’s Orlen, Ukraine’s biggest state-owned energy firm announced on March 7. The LNG will be transported from cargoes ... more
OPEC+ continues with production plan despite Trump’s demands
OPEC+ has decided to continue with its current oil production plans after a review meeting on February 2 despite calls from US President Donald Trump to lower crude prices. According to a ... more