Azerbaijan, Baku, Feb. 2 / Trend E. Kosolapova/
Kazakh national oil and gas company KazMunaiGas (KMG) decreased oil and gas production in 2011 compared to the results of 2010, the company said on Thursday.
"According to operational data, the company's consolidated volume of oil and gas condensate production decreased by 4 percent in 2011 to 21.1 million tons (5 percent lower than target) compared to 2010," KMG reported.
Natural gas production decreased by 1.4 percent during this period and amounted to 2.8 billion cubic meters (6 percent more than the target).
KazMunaiGaz is Kazakh national operator for exploration, production, refining and transportation of hydrocarbons, representing the state interests in oil and gas industry of Kazakhstan. 100 percent of KazMunayGas shares are owned by Samruk-Kazyna National Welfare Fund.
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