BAKU, Azerbaijan, Oct. 30
By Nargiz Sadikhova - Trend:
Oil and gas condensate production of Kazakhstan’s KazMunayGas (KMG) National Company amounted to 16.4 million tons (449,000 barrels a day), having decreased by 6.6 percent year-on-year, Trend reports citing KMG.
Natural and associated gas production decreased marginally by 0.9 percent to 6.1 billion cubic meters.
Oil production at Tengiz, Kashagan, and Karachaganak decreased by 3.2 percent year-on-year to 5.8 million tons (168,000 barrels a day), meanwhile, natural and associated gas production amounted to 4.3 billion cubic meters, having unchanged year-on-year.
KMG’s share in oil production at Tengiz declined by 8.2 percent year-on-year to 4.0 million tons (117,000 barrels a day), and gas production decreased by 6.9 percent to 2.2 billion cubic meters. Restrictions under the OPEC+ agreement had a significant impact on the decline in oil production.
Oil production at Kashagan increased by 13.8 percent to 954,000 tons (28,000 barrels a day). Natural and associated gas production increased by 14.6 percent to 576 million cubic meters.
Oil and gas production increased as a result of the conducted overhaul in 2019, which led to the higher operational efficiency of offshore and onshore facilities, as well as an increase in the injection fund from 4 to 6 wells, installation of additional reboilers on oil processing lines, and new wells commissioning. In the nine months of 2020, the average gross daily production at Kashagan (100 percent) amounted to 333,000 barrels a day.
Oil and condensate production at Karachaganak increased by 7.4 percent to 816,000 tons (23,000 barrels a day). Gas production amounted to 1.5 billion cubic meters, up by 7.9 percent year-on-year.
The growth of oil and gas production is associated with modernization of the facilities of Karachaganak Processing Complex (KPC) and gas-processing units (Unit 2 and Unit 3) after planned preventive maintenance in September-October 2019.
Oil production at KMG-operated assets decreased by 8.5 percent year-on-year to 10.6 million tons (281,000 barrels a day), and gas production decreased by 3.7 percent to 1.8 billion cubic meters.
The decrease in oil production volumes at KMG-operated assets was mainly attributable to restrictions under the OPEC+ agreement, as well as the natural decline in production levels at JV Kazgermunai LLP and JSC PetroKazakhstan Inc of 29.6 percent, and 23.1 percent respectively.
---
Follow the author on Twitter: @nargiz_sadikh