KazMunaiGas Exploration Production decreases oil production in 2012

Photo: KazMunaiGas Exploration Production decreases oil production in 2012  / Kazakhstan

Azerbaijan, Baku, Jan. 22 / Trend A.Badalova/

Oil production by KazMunaiGas Exploration Production ("KMG EP") decreased by 150,000 tons or one percent to 12,191 tons (247,000 barrels per day kbopd) in 2012, KMG EP reported on Tuesday.

According to the report, in 2012 Uzenmunaigas (UMG) produced 4,950 tons (100,000 bpd, which is 131,000 tons less than in 2011.

Embamunaigas (EMG) last year produced 2,816 tons (57,000 bpd), same as in 2011. The total volume of the oil produced at UMG and EMG in 2012 is 7,766 tons of oil (156,000 bpd).

KMG EP reported that in 2012 the company's export and domestic sales from the UMG and EMG were 6,091 tons (122,000 bpd) and 1,646 tons (33,000 bpd) respectively.

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2012 was 12.2 million tones (an average of 247,000 bpd) of oil, including the Company's share in Kazgermunai, CCEL and PKI. The total volume of proved and probable reserves, as at the end of 2011 was 226 million tonnes (1.7 billion barrels), including shares in the associates of about 2.1 billion barrels.

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