Kazakh Zhaikmunai oil company highly increased net profit in first quarter of 2013

Azerbaijan, Baku, May 20 / Trend E. Kosolapova/

Zhaikmunai LP (ZKM), the oil and gas exploration and production enterprise with assets in north-western Kazakhstan increased net profit from $48.44 million to $65.9 million in the same period of 2012, the company reported on Monday.

Company's revenues increased by 39.9 percent to $228.5 million in the reporting period compared to the same period of 2012.
EBITDA increased by 37.6 percent to $152.5 million.

EBITDA Margin comprised 66.7 percent in January-March 2013 compared to 67.9 percent in the same period of 2012.

Zhaikmunai's average daily production increased by 25 percent from 36,940 barrels of oil equivalent per day in 2012 financial year to 46,273 barrels of oil equivalent per day in the first quarter of 2013.

43 percent or 19,705 boepd of company's total production fell on crude oil and stabilised condensate, 8 percent or 3,651 barrels of oil equivalent per day fell on liquid petroleum gas and 49 percent or 22,917 barrels of oil equivalent per day on dry gas.

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.

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