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Kazakh KazMunaiGas Exploration Production determines volume of oil supply to domestic market

Oil&Gas Materials 5 December 2013 17:51
Kazakh KazMunaiGas Exploration Production forecasts its obligations for oil to the domestic market will amount to 1.9 million tons (38,000 barrels per day) in 2014 and will be delivered to the Atyrau refinery.

Astana, Kazakhstan, Dec.5

By Daniyar Mukhtarov - Trend:

Kazakh KazMunaiGas Exploration Production forecasts its obligations for oil to the domestic market will amount to 1.9 million tons (38,000 barrels per day) in 2014 and will be delivered to the Atyrau refinery, a message from the company published on Dec.5 said.

An additional 100,000 tons will be processed at the Atyrau refinery for the company's own needs. The price of oil is projected at 48,000 tenge per ton ($43.4 per barrel) which is 20 percent more than the oil price in 2013," the company said.

It is expected that the oil supply to the domestic market can increase to 50 percent of the volume of sales by UzenMunaiGas JSC and EmbaMunaiGas JSC for 2015-2018, according to the company.

The company's production volume including shares in the following companies, JV Kazgermunai LLP, CCEL (Karazhanbasmunai JSC) and PetroKazakhstan Inc amounted to 12.2 million tons (247,000 barrels per day) in 2012. The volume of proven and probable reserves of KazMunaiGas Exploration Production in late 2012 amounted to 204 million tons (1.5 billion barrels) around 148 million tons of which (1.1 billion barrels) fell to UzenMunaiGas JSC and EmbaMunaiGas JSC.

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