ASTANA, Kazakhstan, March 15. Kazakhstan's KazMunayGas JSC's EBITDA (earnings before interest, taxes, depreciation, amortization, and management) amounted to 1.995 trillion tenge ($4.4 billion) from January through December 2023, Trend reports.
According to the financial results of the company, the figure for 2023 decreased by 21.4 percent compared to the same period in 2022 (2.536 trillion tenge, or about $5.5 billion).
As the company explained, the decrease was primarily due to a 21.9 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 shares in the income of joint ventures and associates, amounted to 2.08 trillion tenge (about $4.6 billion). This indicator increased by 3.6 percent.
To note, the revenue of KazMunayGas JSC amounted to 8.32 trillion tenge (about $18.4 billion) from January through December 2023. The figure fell by 4.3 percent compared to the same period in 2022.
Meanwhile, the volume of oil production by KazMunayGas amounted to 23.5 million tons in 2023. The volume of oil and gas condensate production grew by 6.9 percent in 2022.
At the same time, gas production in 2023 amounted to 9.459 billion cubic meters, which is 14.8 percent more than in 2022.