KazMunaiGas invests $77 million in exploration and appraisal work
Kazakhstan, Astana, Nov.14 /Trend K. Konyrova /
Kazakh Oil Company Exploration and Production KazMunaiGas has invested $77 million in exploration and appraisal work in the first nine months of 2011, the company reported.
"In general, capital expenditures has totaled to $462 million over the nine months of 2011, including $385 million on the maintenance of production and $77 million on exploration and appraisal work," the company added.
Capital expenditures grew by 30 percent compared to the same period in 2010 due to increased volumes of drilling from 213 to 239 wells and the volume of exploration work.
Edited by E. Kosolapova