Kazakh KMG EP reduced oil production in 2014
Astana, Kazakhstan, Jan. 27
By Daniyar Mukhtarov - Trend:
Kazakhstan's KazMunaiGas Exploration Production (KMG EP) company produced 12.328 million metric tons of oil (250,000 barrels per day) in 2014, which is by 60,000 metric tons (less than 1 percent) less than in 2013, the company said Jan.27.
Ozenmunaigas JSC (OMG) produced 5.328 million metric tons (107,000 barrels per day) in 2014, an increase of 2 percent compared to 2013. Embamunaigas JSC (EMG) produced 2.823 million metric tons (57,000 barrels per day), slightly less than was produced in 2013, said the message.
The total volume of oil OMG and EMG produced in 2014 was 8.151 million metric tons (164,000 barrels per day), which is a 1 percent increase compared to production in 2013.
The company's combined export sales from OMG and EMG were 5.571 million metric tons (110,000 barrels per day), or 69 percent of the total sales volume. Domestic sales amounted to 1.967 million metric tons (39,000 barrels per day), or 25 percent of total sales volume, according to the message.
KMG EP is among the top three Kazakh oil and gas producers.
The volume of consolidated proven and probable reserve of the KMG EP, given the shares in joint ventures, amounted to 200 million metric tons (1.5 billion barrels) as of late 2013.
Some 148.8 million metric tons (1.1 billion barrels) of this volume accounted for Ozenmunaigas JSC, Embamunaigas JSC and Ural Oil and Gas LLP.
Edited by CN