BAKU, Azerbaijan, Dec. 1
By Nargiz Sadikhova – Trend:
Kazakhstan’s KazMunayGas national company does not expect a great improvement in the situation in the oil markets in the near future, the company told Trend on Dec. 1.
“Presently, the company focuses on the implementation of all current projects,” the company said. “KMG Group of Companies will continue to implement the anti-crisis program in 2021.”
"In accordance with our estimates, the situation on the oil markets is not expected to greatly improve in the near future, therefore both production and financial indicators will be at the level of the current year," the company said.
Commenting on its activity during the pandemic, the company stressed that KMG is still operating during the pandemic, and the health and well-being of employees and their families, as well as ensuring uninterrupted production activity are the company's top priority.
"At the same time, the introduction of quarantine regime and the closure of borders complicated the implementation of some investment projects and pushed back the deadlines for their implementation," the company said.
KazMunayGas is the Kazakh operator for exploration, production, processing, and transportation of hydrocarbons, representing the interests of the state in the oil and gas industry of Kazakhstan.