Azerbaijan, Baku, Oct. 31 / Trend E. Kosolapova/
Zhaikmunai LP (ZKM), the oil and gas exploration and production enterprise with assets in north-western Kazakhstan announced record financial results and provided an operational update in respect of its third quarter results ended on Sep. 30, 2013.
The company increased revenue by 25.6 per cent to $657.2 million in the reporting period compared to the same period of 2012.
In the first nine months of 2013, the company's EBITDA is expected to be above $390 million compared to $343 million in the same period of 2012.
Zhaikmunai's cash position increased 18.1 per cent to $223.8 million in the reporting period including short term deposits. The total net debt increased slightly to $428.7 million.
The total average daily production increased by 23.2 per cent to 45,414 barrels of oil equivalent per day in January-September.
Zhaikmunai is an independent oil and gas enterprise currently engaged in the production, development and exploration of oil and gas in north-western Kazakhstan.
Zhaikmunai's principal producing asset is the Chinarevskoye field, where it holds a 100 per cent interest and is the operator, through its wholly-owned subsidiary Zhaikmunai LLP.
In addition, Zhaikmunai holds a 100 per cent interest in and is the operator of the Rostoshinskoye, Darinskoye and Yuzhno-Gremyachenskoye oil and gas fields.