LUKOIL Overseas decreases oil production in Kazakhstan
Azerbaijan, Baku, March 29 /Trend E. Kosolapova/
Russian company LUKOIL Overseas decreased oil and gas condensate production in Kazakhstan from 4.45 million tons in 2010 to 4.24 million tons in 2011, the company reported.
Meanwhile, the company's gas production in Kazakhstan increased from 2.2 billion to 2.3 billion cubic meters during this period.
"Production program was successfully fulfilled in Kazakhstan, which is the main producing region of the company. 4.24 million tons oil and gas condensate and 2.28 billion cubic meters of gas were produced. Efficient application of modern technology (horizontal drilling, acid hydro fracturing, separate water injection, etc.) and expansion of associated petroleum gas utilization capacity among other things contributed to this result," the company said.
The group of companies LUKOIL Overseas is part of the vertically integrated Russian Oil Company LUKOIL. The company realizes exploration and development of oil and gas fields outside of Russia. In Kazakhstan, LUKOIL Overseas works on such fields as Karachaganak, Kumkol, Tengiz, Atash, Tub-Karagan, Arman, North Buzachi, Karakuduk, Zhambai, Alibekmola, etc.