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--
Economics
-
Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
-
Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
-
Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
-
In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
Leave a review