KazMunaiGas EP raises oil output by 0.3% y/y to 9.245mn tonnes in Jan-Sep

By bne IntelliNews October 26, 2015

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

Turkey and Israel aim to ink natural gas pipeline deal by end-2017

Turkey’s Energy Minister Berat Albayrak, son-in-law of President Recep Tayyip Erdogan, is set to visit Israel by the end of this year to conclude an agreement to construct a natural gas pipeline ... more

Polish utility Tauron places €500mn eurobond issue

State-controlled Polish power firm Tauron has sold €500mn worth of eurobonds, the company said on July 5. Tauron needs capital to refinance the costs of construction and the purchasing of a ... more

Hungary signs deal to link to Russia's Turkish Stream gas pipeline

Budapest has signed a deal with Russia's Gazprom to link Hungary with the under-construction Turkish Stream ... more

Dismiss