KazMunayGas increases oil and gas condensate output 6.8% in 2023

ALMATY. Feb 5 (Interfax) - The consolidated volume of oil and gas condensate produced by the KazMunayGas group of companies in 2023 reached 23.5 million tonnes, the press service of the Samruk-Kazyna state fund said.

As reported, in 2022, oil and gas condensate production across the group totaled 22.012 million tonnes of oil. The 2023 number thus represents a 6.8% increase.

As the press service said, Head of Samruk-Kazyna, Nurlan Zhakupov, held a hearing on the national company's performance results for 2023, where KMG's production and financial results for the past year were reviewed.

The volume of oil transportation in the reporting period totaled 80.3 million tonnes, 23% more than in 2022.

The State Fund said that the company's revenue last year exceeded 8.3 trillion tenge, which is 4.4% less than in 2022.

In 2023, the implementation of three investment projects was completed: the reconstruction and expansion of the Astrakhan-Mangyshlak water pipeline, the construction of a water pipeline at the Kashagan integrated gas treatment facility, and the purchase of two 8,000-tonne deadweight oil tankers.

In 2024, projects planned for completion include the installation of liquefied hydrocarbon gases for purification at the Pavlodar Oil Refinery, the installation of a 5th gas reinjection compressor (KMG Karachaganak LLP) and the construction of a thermal power plant in Romania (KMG International LLP).

KazMunayGas is the Kazakh national operator for exploration, production, processing and transportation of hydrocarbons, and represents the interests of the state in the oil and gas industry.