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Kazakh Company Increases Oil Production in 2007

Business Materials 22 January 2008 16:16 (UTC +04:00)

Kazakhstan, Astana / Trend corr. K.Konirova / The exploration production company KazMunayGas increased oil production in 2007.

"The volume of production made up 10,639 tons of oil in 2007, which is 11.64% up form 2006," a press-release stated.         

The increase of oil production is connected to the acquisition of 50% share in CITIC Canada Energy Limited.

The company was second after Kazakhstan by the volume of oil production in 2007.         

KazMunayGas was established in March 2004 as a result of a merger with the daughter company of KazMunayGas Embamiunaygas and Uzenmunaygas.         

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