Kazakh oil company KazMunaiGas Exploration Production (KMG EP) produced 6.08 million tons of oil in H1 of 2016 including its stakes in subsidiaries and joint ventures, up by 0.7% YoY.
KMG EP’s subsidiary Ozenmunaigas (OMG) produced 2.78 million tons, up by 2%, KMG EP’s subsidiary Embamunaigas (EMG) produced 1.41 million tons, also up by 2% YoY.
The company’s share in oil production from Kazgermunai (KGM), Karazhanbasmunai (CCEL) and PetroKazakhstan Inc. (PKI) joint ventures in the first six months of 2016 reduced by 6% YoY, to 1.89 million tons, mostly due to the reduction of production at PKI.
In the first six months of 2016, OMG and EMG sold 4.17 million tons, including 2.46 million tons of oil exported abroad and 1.7 million tons of crude sold on the domestic market. Moreover the companies sold 3,000 tons of oil products on the domestic market in the reporting period. In April 2016 KMG EP switched to an independent oil processing scheme.
KMG EP is among the top three Kazakh oil producers. Its overall production in 2015 was 12.4 million tons of oil, including the company’s share in joint ventures. (Kazinform/Business World Magazine)