Subsidiaries of Kazakhstan’s biggest oil & gas company to down oil output

Oil&Gas Materials 4 December 2017 10:31 (UTC +04:00)

Baku, Azerbaijan, Dec. 4

By Ali Mustafayev – Trend:

Subsidiaries of Kazakhstan’s largest oil and gas company KazMunaiGas plan to decrease the level of output by 2 percent in 2018, the press service of KazMunaiGas said in a message.

In accordance with the plans, the volume of production in subsidiaries Ozenmunaigas JSC (OMG) will produce 5.6 million tons (113,000 barrels per day) of oil and in Embamunaigas JSC (EMG) - 2.9 million tons (58,000 barrels per day).

Thus, the total production of OMG and EMG next year will amount to 8.5 million tons (171,000 tons per day) of oil, which is 2 percent less than in the same period of 2017, mainly as a result of reduction of OMG’s oil output this year.

At the same time, OMG and EMG are expected to produce 6.2 million and 3 million of oil accordingly in 2022, which will exceed the production level of 2018 by 6 percent.