KMG EP: Well Tests Show Positive Results at S. Nurzhanov, Liman and Akkuduk
JSC KazMunaiGas Exploration Production announces the results of exploration activities at the north-eastern flank of S. Nurzhanov field, Liman and Akkuduk blocks. While testing the productive Triassic reservoir of the directional well drilled in 2015 at the north-eastern flank of S. Nurzhanov field, the well flowed at a rate …
Ozenmunaigas: Fails to Secure MET Relief for the Uzen and Karamandybas Fields
KazMunaiGas Exploration & Production announces that Ozenmunaigas’ (“OMG”) request to temporarily have Mineral Extraction Tax (MET) relief for 2015, approved for the Uzen and Karamandybas fields in Mangystau Province, has not been approved by the Kazakh Government. In a low oil price environment, the Kazakh Government has the ability to …
KMG EP Approves 2016 Budget and 2016-2020 Business Plan
JSC KazMunaiGas Exploration Production announces the approval by the Board of Directors (“the Board”) of the Company’s 2016 budget and 2016-2020 business plan which assume the average annual Brent price of US$40.1 per barrel in 2016-2017, US$50.1 per barrel in 2018-2020 and an average annual exchange rate of 300 Tenge …
KazMunaiGas Exploration Production: 9M Results – Production Slightly Up
JSC KazMunaiGas Exploration Production announces its operating results for the first nine months of 2015. KMG EP produced 9,245 thousand tonnes of crude oil (251kbopd), including the Company’s stakes in Kazgermunai (KGM), CCEL (Karazhanbasmunai) and PetroKazakhstan Inc. (PKI), which is 0.3% more than in the same period of 2014. Ozenmunaigas …
KMG E&P: 1H Results – Production Up 0.3%
JSC KazMunaiGas Exploration Production announces its operating results for the first six months of 2015. KMG EP, including its stakes in Kazgermunai (“KGM”), CCEL (“Karazhanbasmunai”) and PetroKazakhstan Inc. (“PKI”), produced 6,122 thousand tonnes of crude oil (250 kbopd) in the six months of 2015, an 0.3% increase over the same …
KMG E&P: 1H Results – Production Up 0.3%
JSC KazMunaiGas Exploration Production announces its operating results for the first six months of 2015. KMG EP, including its stakes in Kazgermunai (“KGM”), CCEL (“Karazhanbasmunai”) and PetroKazakhstan Inc. (“PKI”), produced 6,122 thousand tonnes of crude oil (250 kbopd) in the six months of 2015, an 0.3% increase over the same …
KMG EP: Approves the Revision of the 2015 Budget and Business Plan for 2015-2019
JSC KazMunaiGas Exploration Production (“KMG EP” or the “Company”) held its regular Board of Directors (“the Board”) meeting and the Annual General Meeting of Shareholders (“AGM”) on May 19, 2015. 2015 budget revision The Board of Directors approved the revision of the 2015 budget and business plan for 2015-2019. Production …
KazMunaiGas Exploration and Production: Q1 Results Production Down but Ahead of Targets
Today JSC KazMunaiGas Exploration Production announces its operating results for the first quarter of 2015. KMG EP including its stakes in Kazgermunai (KGM), CCEL (CCEL) and PetroKazakhstan Inc. (PKI) produced 3,037 thousand tonnes of crude oil (249 kbopd) for the first three months of 2015, which is slightly less than …
KMG EP: Takes Reserve Hit – 1P Down 16%
JSC KаzМunaiGas Exploration Production announces today the results of the reserves audit as at 31 December 2014 performed by independent consultant Miller and Lents, Ltd. at the Ozenmunaigas JSC (“OMG”), Embamunaigas JSC (“EMG”) and Ural Oil and Gas LLP (“UOG” where KMG EP holds a 50% stake) fields. According to …
KazMunaiGas Exploration Production: CAPEX Down 34%
JSC KazMunaiGas Exploration Production held its regular Board of Directors meeting on March 30, 2015. During the meeting the Board approved the revision of the 2015 budget and approved the meeting agenda for the Annual General Meeting of Shareholders (“AGM”) set for 19 May 2015. I. Revised 2015 budget The …