Baku, Azerbaijan, Oct. 25
By Elena Kosolapova- Trend:
Kazakh KazMunaiGas Exploration Production (KMG EP) including its stakes in in subsidiaries and joint ventures, produced 9.13 million tons of oil in Jan. – Sept. 2016, the company reported Oct. 25.
The produced amount is 1 percent less compared to the same period of 2015.
KMG EP’s subsidiary Ozenmunaigas (OMG) produced 4.18 million tons, which is 2 percent more compared to the same period of 2015. KMG EP’s subsidiary Embamunaigas (EMG) produced 2.12 million tons, which is 1 percent more than in the same period of 2015.
The company’s share in production from Kazgermunai (KGM), Karazhanbasmunai (CCEL) and PetroKazakhstan Inc. (PKI) joint ventures decreased by 6 percent in Jan. – Sept. 2016 to 2.83 million tons of oil, mainly because of forecasted decline in production of oil by PKI.
In Jan. – Sept. 2016, OMG and EMG sold 6.28 million tons of oil, including 3.74 million tons of oil exported abroad and 2.540 million tons of oil supplied to the domestic market. Additionally, 4,000 tons of oil products were sold to the domestic market in the reporting period.
In 1Q2016, before KMG EP switched to independent oil refining scheme, domestic supplies were 830,000 tons of oil. Between April and September 2016, 1.71 million tons of oil was supplied to the domestic market for further refining.
The company’s share in the sales from CCEL, KGM, and PKI was 2.77 million tons of oil or 51 percent of total sales volume in the reporting period.
In Jan. – Sept. 2016 KMG EP’s oil export increased from 50 percent to 56 percent of total production volume, supplies to domestic market increased from 38 percent to 43 percent, supplies to Russia within the intergovernmental agreement decreased from 11 percent to 0 percent.
KMG EP is among the top three Kazakh oil producers. Its overall production in 2015 was 12.4 million tons of oil, including the company’s share in joint ventures.
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