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Operating Results of KMG EP for 2017 Published

Friday 26 January 2018

ASTANA (KPMG press service) – JSC KazMunaiGas Exploration Production (KMG EP), including its stakes in Kazgermunai (KGM), Karazhanbasmunai (CCEL) and PetroKazakhstan Inc. (PKI), produced 11.867 mln tonnes of crude oil (240 kbopd) for 2017, a 2% decrease over 2016, the company says in a press release.

Production
KMG EP, including its stakes in KGM, CCEL and PKI, produced 11.867 mln tonnes of crude oil (240 kbopd) for 2017, a 2% decrease over 2016.

Ozenmunaigas JSC (“OMG”) produced 5.48 mln tonnes (111 kbopd), a 1% decrease as compared to 2016 mainly due to lower level of production from the existing well stock. Embamunaigas JSC (“EMG”) produced 2.84 mln tonnes (57 kbopd), a 0.3% increase as compared to 2016. The total volume of oil OMG and EMG produced was 8.32 mln tonnes (168 kbopd), a 1% decrease compared to production for 2016.

The Company’s share in production from KGM, CCEL, and PKI for 2017 amounted to 3.547 mln tonnes of crude oil (72 kbopd), 6% less than in 2016. This was mainly driven by a natural decline in oil production at PKI and KGM.

Crude oil supplies and sales of oil products
In 2017, the Company’s combined sales from OMG and EMG were 8.233 mln tonnes (163 kbopd). Of these crude oil sales, 5.700 mln tonnes (113 kbopd) were exported and 2.533 mln tonnes (50kbopd) were sold to the domestic market, equivalent to 31% of the total sales volume. In 2016, the Company sold 41% of crude oil in the domestic market.

Out of 2.533 mln tonnes (50 kbopd) of crude oil supplied by OMG and EMG to the domestic market, 1.909 mln tonnes (38 kbopd) was supplied to Atyrau Refinery and 0.624 mln tonnes (12 kbopd) was supplied to Pavlodar Refinery. Under the independent oil processing scheme, sales of oil products in 2017 was 2.388 mln tonnes.

The Company’s share in the sales from KGM, CCEL, and PKI amounted to 3.414 mln tonnes of crude oil (70 kbopd). Of this, 1.443 mln tonnes (28 kbopd) were exported with the remaining1.971 mln tonnes (42 kbopd) supplied to the domestic market, equivalent to 58% of total sales volume.

The structure of Company’s share in the sales from KGM, CCEL and PKI in 2017 has changed as compared to 2016 in the following manner: the share of export supplies from the total sales volume has decreased from 50% to 42%; the share of domestic supplies has increased from 50% to 58%.

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