Baku, Azerbaijan, June 7
By Nargiz Sadikhova - Trend:
During the 1Q2019 oil and condensate production volume of KazMunayGaz increased by 1.3 percent year-on-year and amounted to 5.939 million tons, Trend reports referring to the press office of the company.
Furthermore, the natural and associated gas production volume increased by 4.7 percent and stood at 2,173 million cubic meters.
In 1Q2019 oil production on Kashagan oil field increased by 25 percent year-on-year and equaled 3.583 million tons (316,000 barrels a day).
KazMunayGaz's share in Kashagan oil and gas production increased by 25 percent and 31.7 percent respectively.
The increase in oil production is related to the planned increase during the commercial development phase. From 14 April to 19 May 2019 Kashagan production was halted for a scheduled overhaul.
In turn, oil production on Karachaganak oil field decreased by 4.9 percent year-on-year to 271,000 tons attributable to KazMunayGaz’s share. Gas production amounted to 271 million cubic meters. A decrease of production is mainly due to high gas-condensate factor and increasing water-cut.
KazMunayGaz’s share in the oil production of the Tengiz field increased by 2.4 percent year-on-year. KazMunayGaz’s share equaled to 1,521,000 tons.
Tengiz oil field gas production increased by 1.7 percent year-on-year with KazMunayGaz’s share amounting to 829 million cubic meters. The volumes increased in line with production plan.
KazMunayGaz’s share in operating assets' production slightly decreased by 0.1 percent and amounted to 3,851,000 tons. Decrease is mainly due to natural decline of oil production.
---
Follow the author on twitter: @nargiz_sadikh