ASTANA, Kazakhstan, March 16. KazMunayGas JSC's (KMG, Kazakhstan's national oil and gas company) share in the profits of joint ventures and associated companies amounted to 534 billion tenge ($1.17 billion) from January through December 2023, Trend reports.
According to the financial results of the company, this figure decreased by 46.1 percent compared to the same period in 2022.
The above decrease occurred mainly as a result of a decrease in profits from Tengizchevroil LLP by 402 billion tenge ($864 million) and Caspian Pipeline Consortium (CPC) by 53 billion tenge ($114 million).
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.