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Kazakh enterprise increases net income by 80 percent in Jan.- Sep

Oil&Gas Materials 28 November 2011 18:20 (UTC +04:00)
The Kazakh oil and gas exploration and production enterprise Zhaikmunai LP increased the net income by 80 percent in Jan.- Sep to $54.477 million compared to $30.213 million of the same period of 2010

Azerbaijan, Baku, Nov. 28 / Trend E. Kosolapova/

The Kazakh oil and gas exploration and production enterprise Zhaikmunai LP increased the net income by 80 percent in Jan.- Sep to $54.477 million compared to $30.213 million of the same period of 2010, Zhaikmunai reported on Nov. 28.

"EBITDA stood at $115.075 million in the reporting period compared to $71.079 million for the last year's first nine months (62 percent increase)," the report said.

The company's revenue increased to $189.600 over the first nine months of 2010 with an increase of approximately 48 percent.

The average daily production of crude oil and GTF test production (stabilized condensate, LPG and dry gas) amounted to 12,326 bpd for the first nine months, with a 60 percent increase compared to the same period of 2010.

The average price on the sold oil increased to $ 111.63 per bbl from $ 78.33 per bbl (42.5 percent increase).

Zhaikmunai is an independent oil and gas enterprise currently engaging in the exploration, production and sale of crude oil and gas condensate in northwestern Kazakhstan. Zhaikmunai's field and license area is the Chinarevskoye field located in the northern part of the oil-rich Pre-Caspian Basin.

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