Kazakhstan's Mangystaumunaigas oil&gas company reports net income decrease
BAKU, Azerbaijan, May 25
By Nargiz Sadikhova - Trend:
Net income of Kazakhstan’s Mangystaumunaigas (MMGZ) oil and gas company has amounted to 178.4 billion tenge (430.5 million) as of Dec. 31, 2019 compared to 201.2 billion ($485.4 million) as of the same period of 2018, Trend reports with reference to the company’s financial statement.
The company’s equity amounted to 261.5 billion tenge as of Dec. 31, 2019 ($613 million), which indicates an increase, compared to 207.9 billion tenge ($501.8 million) as of Dec. 31, 2018.
MMGZ’s total assets during the reporting period of 2019 equaled 490.9 billion tenge ($1.1 billion), which is more than 410.4 billion tenge ($990.4 million) as of the same period of 2018.
Company’s total liabilities as of Dec. 31, 2019 amounted to 229.3 billion tenge ($553.4 million), which indicates growth compared to 202.4 billion tenge ($448.5 million) of the previous year.
Sales volume of the company were 836.4 billion during the reporting period ($2.01 billion) compared to 839.3 billion tenge during the same period of 2018 ($2.02 billion). The company’s gross revenue was 557.07 billion tenge ($1.34 billion), which is less than as of Dec. 31, 2018 (575.6 billion tenge or $1.38 billion).
Carrying amount of ordinary shares was 2,421 tenge or $5.8 (1,925 tenge or $4.6 in 2018). Carrying amount of privileged share amounted to 1,000 tenge ($2.4), which is flat year-on-year.
Mangistaumunaigas JSC is one of the largest oil and gas producing companies in Kazakhstan, providing for over 31 percent of oil production in Manystau region and 8 percent in the country.
Currently, Mangistaumunaigas is developing 15 oil and gas fields with total initial reserves of 1.1 billion tons (8.1 billion barrels).
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