Astana, Kazakhstan, April 25
By Daniyar Mukhtarov - Trend:
JSC KazMunaiGas Exploration Production ("KMG EP" or "the Company") announces its operating results for the first quarter of 2014, the company said on April 25.
"KMG EP produced 3.048 million tonnes of crude oil (250 kbopd) for the first three months of 2014, including the Company's stakes in Kazgermunai (KGM), CCEL (CCEL) and PetroKazakhstan Inc. (PKI), which is 45,000 tonnes or 1% more than in the same period of 2013," the company said.
Ozenmunaigas JSC (OMG) produced 1.301 million tonnes (106,000 kbopd), an increase of 5% over the same period of 2013. Embamunaigas JSC (EMG) produced 684,000 tonnes (56,000 kbopd), which is 1% less than in the same period of 2013. The total volume of oil produced at OMG and EMG is 1.985 million tonnes (162,000 kbopd), which is a 3% increase over the same period of 2013 and in accordance with 2014 production plans for these companies, according to the report.
The Company's share in production from KGM, CCEL and PKI for the first quarter of 2014 amounted to 1.063 million tonnes (88,000 kbopd), which is 1% less than in the same period of 2013, according to the report.
In the first quarter of 2014, the Company's combined export sales from OMG and EMG were 1.459 million tonnes (117,000 kbopd). Domestic sales amounted to 519,000 tonnes (42,000 kbopd). The Company expects that domestic sales from OMG and EMG in 2014 will amount to 1.9 million tonnes.
The Company's share in the sales from KGM, CCEL and PKI was 1,051 tonnes of crude oil (87,000 kbopd), including 598,000 tonnes (49,000 kbopd), or 57% supplied to export markets. The growth in domestic sales volumes is related to an increase in quotas by the Kazakh Ministry of Oil and Gas.
KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2013 was 12.4 million tonnes (an average of 251,000 kbopd) of crude oil, including the Company's share in Kazgermunai, CCEL and PKI. The Company's total consolidated volume of proved and probable reserves including shares in the associates, as at the end of 2013 was 200 million tonnes (1.5 bn bbl).