KazMunaiGas Announces Operating Results for 2014
KazMunaiGas Exploration Production today announces its full year operating results for 2014.
Overall, in 2014 KMG EP, including its stakes in Kazgermunai (KGM), CCEL (CCEL) and PetroKazakhstan Inc. (PKI), produced 12,328 thousand tonnes of crude oil (250kbopd), which is 60,000 tonnes (less than 1%) lower compared to 2013.
Ozenmunaigas JSC and Embamunaigas JSC
In 2014, Ozenmunaigas JSC (OMG) produced 5,328 thousand tonnes (107kbopd), an increase of 2% compared to 2013. Embamunaigas JSC (EMG) produced 2,823 thousand tonnes (57kbopd), slightly less than was produced in 2013. The total volume of oil OMG and EMG produced in 2014 was 8,151 thousand tonnes (164kbopd), which is a 1% increase compared to production in 2013.
In 2014, the Company’s combined export sales from OMG and EMG were 5,571 thousand tonnes (110kbopd), or 69% of the total sales volume. Domestic sales amounted to 1,967 thousand tonnes (39kbopd), or 25% of total sales volume. Furthermore, 447 thousand tonnes of crude oil (9 kbopd) were shipped in September – December 2014 to Russia to fulfill obligations under the counter-oil supply agreement between the Government of Kazakhstan and the Russian Government. Sales volumes shipped to Russia are specified by the Ministry of Energy of Kazakhstan and so far the Company has not received the approved schedule for deliveries to Russia in 2015.
Joint ventures and associate
The Company’s share in production from CCEL, KGM, and PKI in 2014 amounted to 4,177 thousand tonnes of crude oil (85kbopd), 4% lower than in 2013, mainly due to 8% and 3% lower production at PKI and KGM, respectively, due to the natural decline of production.
The Company’s share in the sales from CCEL, KGM, and PKI was 4,167 thousand tonnes of crude oil (85kbopd), including 1,944 thousand tonnes (40kbopd) supplied to export markets, or 47% of total sales volume.
