12 Aug 2010 15:20

KazMunayGas could up oil output 14% in 2010

ASTANA. Aug 12 (Interfax) - Kazakh national oil and gas company KazMunayGas could raise oil production 14% this year, its chief, Kairgenldy Kabyldin, said at a meeting of the Samruk-Kazyna fund's board of directors.

"We're meeting our production targets and hope to achieve 14% growth in production and 13% growth in refining this year," Kabyldin said.

Oil and gas transportation volumes should be level with last year, he said.

KMG produced just over 18.7 million tonnes of oil in 2009, up 4% from 2008.

Oil transportation along trunk pipelines rose 5% to 64 million tonnes, and oil shipments by sea grew 27% to 7.3 million tonnes.

The company transported 90.9 billion cubic meters of gas, 22% less than in 2008.