KazMunaiGaz Exploration and Production reduces output by 3% in H1
ALMATY. July 7 (Interfax) - KazMunaiGaz Exploration and Production, a subsidiary of Kazakh national company KazMunaiGaz, produced 6.31 million tonnes of oil in January-June 2011, which is 216,000 tonnes less, or 3%, than that produced in the same period of 2010, the company said in a statement.
This includes the company's stakes in the Kazgermunay joint venture, CCEL (Karazhanbasmunai), PetroKazakhstan Inc and TOO NBK.
KazMunaiGaz Exploration and Production's stake in the production of these companies came to 2.196 million tonnes (91,000 barrels a day) for the first six months of 2011, which is a decrease of 15,000 tonnes, or 1%, from the result for the same period of 2010.
The company's production branch, OzenMunayGas, posted 2.733 million tonnes in oil output (111,000 barrels a day), which is 218,000 tonnes less than in the same period of 2010. The company's operation EmbaMunayGas produced 1.382 million tonnes (56,000 barrels a day), which was an increase of 17,000 tonnes. As a result, total output from the production branches in the six months came to 4.115 million tonnes (167,000 barrels a day), which is 201,000 tonnes, or 5%, less than in the same period of 2010.
The decrease in output in the first half was the result of emergency shutdowns, restrictions on electricity for fields owing to poor weather conditions in March and April, as well as protests at OzenMunayGas. These protests, which started on May 26, 2011, have caused a total lag in oil output that has reached around 174,000 tonnes.
KazMunaiGaz Exploration and Production's output in 2010 came to 13.285 million tonnes of oil (270,000 barrels a day), which was an increase of 16% from 2009.