KazMunaiGas EP ups oil production 1% in 9M
ASTANA. Oct 23 (Interfax) - KazMunaiGas Exploration Production (KMG EP) raised oil production 1% year-on-year in January-September to 9.228 million tonnes (250,000 barrels a day), the Kazakh oil and gas company said in a press release.
The production volume includes KMG EP's stakes in Kazgermunai (KGM), CCEL (CCEL) and PetroKazakhstan Inc. (PKI).
KMG EP's share in production from KGM, CCEL and PKI for the nine months of 2013 amounted to 3.23 million tonnes of crude oil (88kbopd), which is 3% less than in the same period of 2012, mainly due to a decline of production at PKI by 6% due to a natural decline of production.
"It is expected that both CCEL and KGM will achieve initial plans of 1.0 million tonnes (19kbopd) and 1.5 million tonnes (32kbopd), respectively in 2013," the press release says.
The total volume of oil produced at OMG and EMG in the first nine months of 2013 is 5.997 million tonnes (162kbopd), which is a 4% increase over the same period of 2012. Ozenmunaigas JSC (OMG) produced 3.873 million tonnes (104kbopd), an increase of 5% over the same period of 2012. Embamunaigas JSC (EMG) produced 2.124 million tonnes (57kbopd), which is 1% more than in the same period of 2012.
The company said it "successfully increased the average production rate at OMG by more than 1,000 tonnes per day from 13,467 tonnes per day in October 2012 to 14,615 tonnes per day in October 2013. The Company is effectively accomplishing its objective of stabilizing average production levels at OMG."
The 2013 production plan at KMG EP's core assets (OMG and EMG) is maintained at the planned level of 8.1 million tonnes (164kbopd) but the company "realizes that it will continue to face challenges in production at Uzen."
In the first nine months of 2013, KMG EP's combined export sales from OMG and EMG were 4.482 million tonnes (119kbopd), or 74% of the total sales volume from core assets. Domestic sales amounted to 1.535 million tonnes (41kbopd), or 26% of total sales volume. The company expects that domestic sales from core assets in 2013 will amount to 2 million tonnes.
KMG EP's share in the sales from KGM, CCEL and PKI was 3.217 million tonnes of crude oil (89kbopd), including 2.841 million tonnes (79kbopd), or 88% supplied to export markets.
KMG EP, a subsidiary of Kazakhstan's national oil and gas company KazMunayGas, was created in March 2004 as result of a merger of two daughter companies of KazMunayGas - EmbaMunayGas and OzenMunayGas.
KMG EP is among the top three Kazakh oil and gas producers. The company's shares are listed on the Kazakhstan Stock Exchange and the GDRs are listed on The London Stock Exchange.
