ASTANA, Kazakhstan, November 23. Kazakhstan's KazMunayGas JSC's EBITDA (earnings before interest, taxes, depreciation, amortization and management) amounted to 1.68 trillion tenge ($3.7 billion) from January through September 2023, Trend reports.
According to the financial results of the company, the figure of 2023 decreased by 16.8 percent compared to the same period in 2022 (2.02 trillion tenge or about $4.4 billion).
As the company explained, the decrease was primarily due to a 20.1 percent decline in the Oil and Gas Exploration and Production segment due to a decrease in the average price of Brent.
Adjusted EBITDA, reflecting dividends received from joint ventures and associates instead of share in the income of joint ventures and associates, amounted to 1.33 trillion tenge (about $2.937 billion). This indicator decreased by 10.8 percent.
The revenue of KazMunayGas amounted to 6.087 trillion tenge (about $13.439 billion) from January through September 2023. At the same time, the company's net profit, taking into account the share of profits in jointly controlled enterprises and associated companies, amounted to 949 billion tenge ($2.095 billion).
KazMunayGas increased its oil and gas condensate production volume over the first 9 months of 2023, surpassing the data of last year's same period by 9 percent, totaling 17.5 million tons (483,000 barrels per day).
The production volume of natural and associated gas in the reporting period of 2023 increased by 17.9 percent year-on-year to over 7 billion cubic meters.
The volume of oil and condensate production at the operational assets decreased by 1.9 percent to 10 million tons (267,000 b/d).