KMG: Oil production reached 10.67 million tons in first half of 2011

KMG: Oil production reached 10.67 million tons in first half of 2011

Kazakhstan, Astana, Aug. 23 / Trend A.Maratov /

The volume of oil and gas condensate production by a group of companies KazMunaiGaz "KMG" totaled 10.67 million tons in the first half of 2011, which is 0.5 percent less, as compared to the same period in 2010, KMG reported.

"Natural gas production totaled 1.4 million tons, a 2 percent increase since the same period in 2010. The volume of main-pipeline oil transports totaled 33.7 million tons, which is 3 percent more compared to this time last year. The volume of sea-based oil transports amounted to 4.2 million tons, with an increase of 24 percent. The volume of gas transports amounted to 54.3 billion cubic meters, with an increase of 3 percent", the report reads.

As of July 1, 2011, the consolidated volume of oil refining (including The Rompetrol Group) amounted to 7.4 million tons of oil, which is 5 percent less than the same period in 2010. Three Kazakh oil refineries processed 5.3 million tons of oil. According to preliminary, non-audited figures, the company's consolidated revenue amounted to 1.34 trillion tenge, exceeding the 2010 indicator by 25 percent. The consolidated profit amounted to 246.2 billion tenge, which is 70 percent more than during the same period in 2010.

Based on the operational data for January-June 2011, taking into account the principles of consolidation to equity, the company paid the Kazakh state 251.7 million tenge in taxes and other obligatory payments, which is 16 percent more compared to the same period in 2010. Under measures to implement the President's instructions for the reporting period, the company continued work on development projects in oil refining and petrochemical industries and increasing the proportion of local content in the company's purchases.

"Thus, the total amount of KMG's purchases for the six months amounted to 1.28 trillion tenge, of which 753.2 million tenge were spent to purchasing goods, 215.5 billion tenge on work, and 315 billion tenge on services. The local content in the total volume of purchases amounted to 596.6 billion tenge, or 46 percent (goods - 34 percent, work - 61 percent, and services - 66 percent)", the report reads.

During the reporting period, 2.7 billion tenge were directed toward measures for health and safety protection, which is 3.4 times higher as compared to the same period in 2010. Work continues on the development of Corporate Management System greenhouse gas emissions, as well as developing the concept of a project to build a national system of early detection and response to oil spills by using international standards.

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