ASTANA, Kazakhstan, November 24. KazMunayGas JSC's (KMG, Kazakhstan's national oil and gas company) net debt amounted to 2.084 trillion tenge ($4.392 billion) as of September 30, 2023, Trend reports.
According to the financial results of the company, net debt decreased in tenge terms by 2.8 percent and in US dollar terms by 5.2 percent compared to December 31, 2022.
The total debt as of September 30, 2023, amounted to 4.114 trillion tenge ($8.671 billion), decreasing in tenge terms by 0.7 percent and in USD terms by 3.2 percent compared to December 31, 2022.
In April 2023, KMG carried out full early repayment of Eurobonds in the amount of $500 million with maturity until 2025.
The decrease in total debt was partially offset by KMG International attracting a syndicated loan in the amount of $290 million (equivalent to 131 billion tenge) and a loan from Banque de Commerce et de Placements in the amount of $63 million (equivalent to 29 billion tenge) for working capital financing purposes.
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).