...

KazMunayGas company increases oil transportation via main pipelines

Oil&Gas Materials 11 September 2018 11:33 (UTC +04:00)

Baku, Azerbaijan, Sept. 11

By Leman Zeynalova - Trend:

In the first half of 2018, JSC National Company KazMunayGas (KMG), Kazakhstan’s vertically integrated oil and gas company, transported 33.661 million tons of oil via main pipelines, which is 1 percent increase year-on-year, reads the company’s report on financial and operating results for the first half of 2018.

“Increase in oil transportation volumes is mainly attributable to oil transportation growth at the Caspian Pipeline Consortium and NWPC MunaiTas LLP impacted by oil production increase at Kashagan field,” the report said. “In the first half of 2018, KMG’s share in two companies increased by 11 percent and 5 percent year-on-year to 6.292 million tons and 1.078 million tons of oil, respectively.”

“Oil volumes transported by marine fleet were 3.446 million tons, reflecting an increase of 11 percent, due to reorientation of routes and transportation growth in Caspian and Mediterranean seas,” the report said.

Gas transportation volumes increased by 15 percent year-on-year to 54.9 billion cubic meters due to export volumes growth, according to the report.

Gas export was 12.7 billion cubic meters, reflecting an increase of 60 percent, primarily due to gas export to China started in October 2017 under an export agreement between KazTransGas and PetroChina International Company Limited, the report said.

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 specialized services.

Established in 2002, the company represents the government’s interests in the national oil and gas industry.

---

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest