Kazakh Zhaikmunai oil company ups production by 2.8 times in 2012
Azerbaijan, Baku, Jan. 30 / Trend E. Kosolapova/
Zhaikmunai LP (ZKM), the oil and gas exploration and production enterprise located in northwestern Kazakhstan, increased production by 2.8 times in 2012, the company said on Wednesday.
The company's total production for 2012 increased to 13.520 million barrels of oil equivalent from 4.804 barrels of oil equivalent in 2011.
Total average daily production for 2012 was 36,940 barrels of oil equivalent per day compared to 13,158 barrels of oil equivalent per day in 2011.
Crude oil and stabilized condensate production in the reporting period hit 15,764 barrels of oil equivalent per day, liquid petroleum gas production - 2,940 barrels of oil equivalent per day, dry gas production - 18,237 barrels of oil equivalent per day.
"In 2013, total average daily production is expected to be in excess of 45,000 boepd and Zhaikmunai plans to more than double this total average daily production volume over the next 3-year period with the increased gas processing capability of the planned third Gas Treatment Facility train," the company said.
Zhaikmunai is an independent oil and gas enterprise currently engaging in the exploration, development and production of oil and gas. It is listed on the London Stock Exchange (Ticker symbol: ZKM). Its principal producing asset is the Chinarevskoye Field located in north-western Kazakhstan.