Four Oil Wells Were Flooded in Western Kazakhstan
About 80% of the country’s oil reserves are located in the Atyrau region. Four oil wells were flooded by floods in the Atyrau region of Kazakhstan. This was reported by the Industrial Safety Committee of the Ministry of Emergency Situations of the Republic. “Currently, four wells are flooded in the …
MSFS with Retrievable Seats Done!
Temir Energy team in alignment with Rimera (Izhneftemash) and EQ Wells has installed another multistage completion system with patented retrievable seats (Surestack RT) on the well on Nurzhanov field for EmbaMunaiGas (KMG subsidiary, Kazakhstan) and Caspian Integrated Service (fracturing contractor) has successfully pumped 5 stages frac job. After the frac …
Operating Results of KMG EP for 2017
JSC KazMunaiGas Exploration Production (“KMG EP” or “Company”) announces its operating results for the year 2017. Production KMG EP, including its stakes in Kazgermunai (“KGM”), Karazhanbasmunai (“CCEL”) and PetroKazakhstan Inc. (“PKI”), produced 11,867 thousand tonnes of crude oil (240 kbopd) for 2017, a 2% decrease over 2016. Ozenmunaigas JSC (“OMG”) …
KMG EP: 2017 9M Results – Production Down Slightly
JSC KazMunaiGas Exploration Production (“KMG EP” or “Company”) announces its operating results for the first nine months of 2017. Production KMG EP, including its stakes in Kazgermunai (“KGM”), Karazhanbasmunai (“CCEL”) and PetroKazakhstan Inc. (“PKI”), produced 8,884 thousand tonnes of crude oil (239 kbopd) in the first nine months of 2017, …
KMG EP: 2017 Q1 Results – Revenues Up 76% yoy As Oil Price Rebounds
JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces its consolidated interim financial results for the first three months ended 31 March 2017. Revenue for the first quarter of 2017 was up 76% year on year and amounted to 214bn Tenge (US$663m[1]). This was largely a result of a …
KMG EP: 2016 Results – Total Production Down 2%
JSC KazMunaiGas Exploration Production announces its operating results for the year 2016. Production Overall, KMG EP, including its stakes in Kazgermunai (“KGM”), CCEL (“Karazhanbasmunai”) and PetroKazakhstan Inc. (“PKI”), produced 12,154 thousand tonnes of crude oil (245 kbopd) for 2016, a 2% decrease on 2015. Ozenmunaigas JSC (“OMG”) produced 5,555 thousand …
KMG EP: Reserve Replacement Ration at 8%
JSC KаzМunaiGas Exploration Production announces the results of an independent audit of liquid hydrocarbon reserves at the Ozenmunaigas JSC, Embamunaigas JSC, KazGPZ LLP and Ural Oil and Gas LLP (KMG EP share – 50%) fields as at 31 December 2016. The audit was performed by independent consultant DeGolyer and MacNaughton …
KMG EP: 2017 Budget Sees 15% CAPEX Spend Increase
SC KazMunaiGas Exploration Production (‘KMG EP’ or the ‘Company’) announces that its Board of Directors (‘the Board’) has approved the Company’s 2017 budget and 2017-2021 business plan. The budget for 2017 assumes a Brent price of US$45 per barrel and an exchange rate of 360 Tenge per US dollar. The …
KMG EP: Additional 66 Wells Drilled for Ozenmunaigas Increases 2016 CAPEX Spend by 17%
JSC KazMunaiGas Exploration Production (“KMG EP” or the “Company”) held its regular Board of Directors (“the Board”) meeting, where the Board approved a revision of the 2016 capital expenditures plan. Consequently, capital expenditures in 2016 are expected to be around 103 billion Tenge (US$286m1), which is 14.7 billion Tenge or 17% more than …
KazMunaiGas Exploration Production: Wins VAT Recovery Application
JSC KazMunaiGas Exploration Production (“KMG EP” or the Company”) is pleased to announce that following extensive work by the Company, facilitated and significantly aided by JSC National Company KazMunayGas (“NC KMG”), the Ministry of Energy and the Ministry of Finance of the Republic of Kazakhstan, a positive decision was made regarding the Company’s …