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KazMunayGas to Produce Up to 10.9 mln Tonnes of Oil by 2022

Tuesday 22 January 2013

ATYRAU (Kazinform) – KazMunayGas, the state-owned oil and gas company of Kazakhstan, is planning to produce up to 10.9 million tons of oil by 2022, Chairman of the Board Lyazzat Kiinov stated during a Thursday enlarged meeting of the company, which discussed the Kazakh President’s state-of-the-nation address “Strategy Kazakhstan-2050”.

It is planned to produce additional volumes of oil at the new oilfields Urikhtau, N.Zhambyl and Zhemchuzhina.

JSC KazMunaiGas Exploration Production (KMG EP) is among the top three Kazakh oil and gas producers. Its total volume of proved and probable reserves, as at the end of 2011 was 226 mln tonnes (1.7 bln bbl), including shares in the associates of about 2.1 bln barrels.

KMG EP announced today to have produced 12.191 mln tonnes of crude oil (247 kbopd) in 2012, including the Company’s stakes in Kazgermunai (KGM), CCEL and PetroKazakhstan Inc. (PKI) which is 150,000 tonnes or 1% less than in 2011.

JSC Uzenmunaigas (UMG) produced 4,950 thousand tonnes (100 kbopd), which is 131 thousand tonnes less than in 2011. JSC Embamunaigas (EMG) produced 2.816 ml tonnes (57 kbopd), same as in 2011. The total volume of the oil produced at UMG and EMG is 7.766 mln tonnes of oil (156 kbopd).

The Company’s share in the production from KGM, CCEL and PKI for 2012 amounted to 4.425 mln tonnes of crude oil (90 kbopd), about the same as in 2011 and in accordance with production plans for these companies.

In 2012 the Company’s export and domestic sales from the UMG and EMG were 6.091 mln tonnes (122 kbopd) and 1.646 mln tonnes (33 kbopd) respectively. The Company’s share in the sales from KGM, CCEL and PKI was 4.410 mln tonnes of crude oil (92 kbopd), including 3.428 mln tonnes (71 kbopd) or 78% of total sales supplied to export markets.

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