KazMunaiGas plans to increase production by 3%

  In 2018 oil production on the main enterprises of KazMunaiGas Exploration and Production joint stock company (JSC), including Ozenmunaigas (OMG) and Embamunaigas (EMG), will increase by 3%, reported Interfax-Ukraine referring to the forecast of KazMunaiGas business plan.

“The company expects that in 2018 total volume of production OMG and EMG will increase by 3% against the expected volume of production in 2013, particularly, OMG will increase by 5% up to 5.57 million,” reads the company’s statement.

In 2014 oil production by OMG will total 5.35 million tons and by EMG by 2.8 million tons (57,000 barrels a day).

KMG Exploration and Development also forecasts gradual reduction of its oil production share in Kazgermunai (KGM), Karazhanbasmunai (CCEL) and PetroKazakhstan Inc (PKI) from 4.1 million tons in 2014 to 3.4 million tons in 2018, because of depletion of oil beds in KGM and PKI.

In 2014 KMG Exploration and Development will deliver 1.9 million tons (38,000 barrels a day) to the local market to the local market (for refining at the Atyrau oil refinery).—0--