20 Oct 2011 12:14

KMG EP plans to produce over 13 mln tonnes oil in 2012-2013

ALMATY. Oct 20 (Interfax) - KazMunayGas Exploration Production (KMG EP) JSC aims to be producing over 13 million tonnes of oil in 2012-2013.

"We plan to produce over 13 million tonnes of oil in 2012-2013. This forecast does not include the new acquisitions that we are going to make," the Kazakh oil producer's CEO, Askar Balzhanov, said at a meeting with investors in Almaty on Thursday.

In January-September 2011 KMG EP produced 9.207 million tonnes of oil, including the shares of Kazgermunay, Karazhanbasmunay and PetroKazakhstan Inc., a year-on-year decrease of 7%.