Kazakh KazMunaiGaz exceeded plan for 2011

Oil&Gas Materials 13 March 2012 19:11 (UTC +04:00)

Kazakhstan, Astana, March 13 /Trend D.Mukhtarov/

KazMunaiGaz exceeds production indicators, except the plan for the extraction of hydrocarbons in 2011, a representative of the Department of Public Relations of the company, Konstantin Kharlamov told Trend on Tuesday.

Consolidated Oil and gas condensate production totaled 21.1 million tons, which is less than five percent of the plan and four percent less than in 2010.

"Non - implementation of the plan is associated with a reduction in oil production at JSC Exploration Production KazMunayGas due to the strike in Ozenmunaygaz production branch and disruptions in electricity supply (1218 tons of oil isn't produced)," the spokesperson of the national company said.

The volume of oil transportation through pipelines amounted to 66.9 million tons, or 104 percent of the plan.

The volume of gas transportation amounted to 110.5 billion cubic meters, or 109 percent of the plan.

Indicator of Consolidated Refining Company was as follows: for the country - 11.4 million tons with 11.1 million tons planned, and 15.3 million tons, or slightly above 100 percent of plan taking into account the Rompetrol, where KazMunaiGas has 100 percent. Consolidated revenue for 2011 amounted to 2820 billion, expenditures - 2727 billion tenge (tenge exchange rate on March 13 was 147.93 tenge / $ 1). The excess of the targets was 26 percent and 25 percent respectively.

According to the preliminary (unaudited) data, the total profit amounted to 379.2 billion tenge, or 215 percent of the plan, which is 24 percent more compared to 2010.