Kazakh KMG EP announces operating results for Jan.-March 2016
Baku, Azerbaijan, April 27
By Elena Kosolapova - Trend:
KazMunaiGas Exploration Production (KMG EP) announces its operating results for the first quarter of 2016. KMG EP produced a total of 3.04 million tons of crude oil (247,000 bpd), which includes the company's stakes in Kazgermunai (KGM), CCEL (Karazhanbasmunai) and PetroKazakhstan Inc. (PKI), almost at the level of the same period of 2015, the company said April 27.
During this period Ozenmunaigas JSC (OMG) produced 1.39 million tons of oil (112,000 bpd), or 48,000 tons more than in the same period of 2015.
Embamunaigas JSC (EMG) produced 702,000 tons of oil (57,000 bpd) or 20,000 tons more than in the same period of 2015.
The company's share in production from CCEL, KGM and PKI for first quarter of 2016 amounted to 954,000 tons of crude oil (78,000 bpd), or six percent less than in the same period of 2015 which primarily relates to the expected decline of production at PKI.
During this period, OMG and EMG sold 2.05 million tons of crude oil; this includes 1.22 million tons or 60 percent of crude oil for export, and 830,000 tons of crude oil for the domestic market.
Some 580,000 tons of crude oil were supplied to the Atyrau Refinery and 250,000 tons of crude oil were supplied to the Pavlodar Petrochemical Plant.
Additionally, 3,000 tons of oil products were sold to the domestic market.
The company's share in crude oil sales from CCEL, KGM, and PKI was 965,000 tons of oil, including 559,000 tons of oil supplied for export which is 58 percent of the total sales volume.
Some 406,000 tons accounted for crude oil sales to the domestic market, of which 292,000 tons were supplied to the Pavlodar Petrochemical Plant, and 114,000 tons to the Shymkent Refinery.
KMG EP is among the top three Kazakh oil producers as of 2015.
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