Azerbaijan, Baku, April 22 / Trend E. Kosolapova/
Zhaikmunai LP (ZKM), the oil and gas exploration and production enterprise with assets in north-western Kazakhstan achieved a record level of production and income results in the first quarter of 2013, the company reported on Monday.
The total average daily production increased by 24 percent to 46 273 barrels of oil equivalent per day in the reporting period compared to 37 184 barrels of oil equivalent per day in the forth quarter of 2012.
In the first quarter of 2013, Zhaikmunai's crude oil and stabilized condensate production hit 19 705 barrels of oil equivalent per day, liquified associated gas production - 3 651 barrels of oil equivalent per day and dry gas production - 22,917 barrels of oil equivalent per day.
The company's total revenues in the first quarter of 2013 increased by 40 percent compared to the same period o 2012, hitting a record level of $228 million.
Company's EBITDA is expected to exceed $140 million compared to $110 million in the first quarter of 2012.
In the first quarter of 2013, Zhaikmunai completed three extra new wells including two gas condensate production wells and one crude oil appraisal well.
"Zhaikmunai is aimed to fulfill its planned drilling programme for 2013, i.e. 15 - 17 wells, nine of which will be appraisal wells, one exploration well and five to seven production wells. The field currently has in operation 15 oil wells and 12 gas condensate wells," 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.