Baku, Azerbaijan, Sept.10
By Leman Zeynalova – Trend:
The volume of oil and gas condensate production of JSC National Company KazMunayGas (KMG) in Kazakhstan amounted to 11.769 million tons for the first half of 2018, which is one percent more than in the same period last year, the KMG said in a message.
The volume of associated and natural gas production increased by two percent, to 4.123 billion cubic meters, according to the message.
“In the first half of 2018, KMG’s share in Kashagan (North Caspian Operating Company N.V. – NCOC) production increased by 76 percent year-on-year to 511,000 tons of oil and 297 million cubic meters of gas as the result of commissioning of crude gas reinjection system in August 2017, reliability improvement of equipment and production efficiency increase,” the message said.
“KMG’s share in TCO oil production increased by 1 percent year-on-year to 2.948 million tons due to steady production of plant performance. Gas production decreased by 1 percent year-on-year to 1.615 billion cubic meters.”
In the first half of 2018, a decline in production was observed at the mature fields of PetroKazakhstan Kumkol Resources JSC, Turgai Petroleum JSC and Kazakhturkmunai LLP mature fields due to natural oil production decreases and watercut increases.
JSC National Company KazMunayGas (KMG) is Kazakhstan's leading vertically integrated oil and gas company, operating assets across the entire production cycle from the exploration and production of hydrocarbons to transportation, refining and specialised services.
Established in 2002, the company represents the government’s interests in the national oil and gas industry.
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