Astana, Kazakhstan, July 24
By Daniyar Mukhtarov - Trend:
On July 23 Kazakh "KazMunaiGas Exploration Production"(KMG EP) announced operating results for the first half of 2014.
"The company's consolidated production including the shares in JV Kazgermunai, CCEL and PetroKazakhstan was 6.106 million tons (250,000 bpd) of crude oil in the first half of 2014 or by 0.2 percent more than in the same period of 2013," according to a statement.
"The results of the first six months of 2014 indicate that KMG EP continues to fulfill the plans set for this year," director general of the company Abat Nurscheitov said.
During this period Ozenmunaigas (OMG) extracted 2.627 million tons (107,000 bpd) of oil or by 88 million tons (3.6 million bpd) or three percent more compared to the same period of last year. Embamunaigas (EMG) extracted 1.391 million tons (57,000 bpd) of oil as in the same period of 2013. As a result, total production of UMG and EMG was 4.018 million tons (163,000 bpd) of oil or by two percent more than in the same period of 2013, according to the report.
As of July 2014, the daily production trend is fully consistent with the company's plan that adheres to the production plan approved at 8.170 million tons in 2014 (including 5.350 million tons - in OMG and 2.820 million tons - in EMG), according to the report.
The volume of exported oil sales of OMG and EMG amounted to 2.938 million tons (117,000 barrels per day) in the first six months of 2014, while the volume of oil supplied to the domestic market stood at 1.010 million tons (40,000 barrels per day). The company expects the OMG and EMG to sell around 1.9 million tons of oil in the domestic market in 2014.
The share of the JSC in the production of CCEL, Kazgermunai and PetroKazakhstan companies amounted to 2.088 million tons of oil (86,000 barrels per day) in the first six months of 2014, which is three percent less than in the same period of 2013.
The share of KMG EP in the volume of sales of CCEL, Kazgermunai and PetroKazakhstan companies stood at 2.086 million tons of oil (86,000 barrels per day), including 1.084 million tons of oil (44,000 barrels per day) sent for export, or 51 percent of the total volume of these companies' sales.
KazMunaiGas Exploration and Production is among top three leaders for oil production in Kazakhstan. The overall production in 2013 was 12.4 million tons (251,000 barrels per day), including the company's share in Kazgermunai, CCEL (Karazhanbasmunai JSC) and PetroKazakhstan Inc.
As of late 2013, the total volume of proven and probable reserves, including the share in the joint enterprises, was 200 million tons (1.5 billion barrels), 148 million tons (1.1 billion barrels) of which fell to UzenMunaiGas JSC and EmbaMunaiGas JSC and Ural Oil and Gas LLP (Rozhkovsky field, Fedorov block).
Edited by CN