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 …
KMG EP: 2014 Results – Profit Down 67% with Ozenmunaigas Impairment Charge
JSC KazMunaiGas Exploration Production announces its consolidated financial statements for the year ended 31 December 2014. — Revenue in 2014 was 846bn Tenge (US$4,722m)1 mainly due to an increase in the average domestic sales price by 20% and higher export price in Tenge (because of an 18% increase in the …
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 …
KazMunaiGas Publishes Operating Results for the 9M 2014
KazMunaiGas Exploration Production announces its operating results for the first nine months of 2014. KMG EP produced 9,217 thousand tonnes of crude oil (249 kbopd), including the Company’s stakes in Kazgermunai (KGM), CCEL and PetroKazakhstan Inc. (PKI), which is slightly below the same period of 2013. Ozenmunaigas JSC (OMG) produced …
KMG EP: Issues 1H 2014 Figures Plus Finds Solution to Radioactive Build-Up
JSC KazMunaiGas Exploration Production announces its operating results for the first half of 2014, an update on the modernization programme, details of a memorandum signed with the environmental agency, information on the start of trial production on Liman block and an update on the decision on the sale of shares …
KazMunaiGas Exploration and Production: Releases Reserves Verification and Changes
JSC КаzМunaiGas Exploration Production is pleased to announce the result of the verification of reserves at 31 December 2011 and 2012 in the Ozenmunaigas, Embamunaigas and Ural Oil and Gas (50% ownership) fields. In summary, KMG EP will continue to use the reserves assessment made by Miller and Lents Ltd. …
KMG EP: Ups Q1 Production by 1%
JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces its operating results for the first quarter of 2014. KMG EP produced 3,048 thousand tonnes of crude oil (250 kbopd) for the first three months of 2014, including the Company’s stakes in Kazgermunai (KGM), CCEL (CCEL) and PetroKazakhstan Inc. (PKI), …
KazMunaiGas E&P: Administrative Fine of 327.9 billion Tenge Dismissed by Court
JSC KazMunaiGas Exploration Production is pleased to announce that the Specialized Administrative Court in Aktau of Mangistau region has ruled that the Act on inspection results of the Department of Ecology of Mangistau Region and the claim for environmental damage in the amount of 327.9 billion Tenge (US$ 1.8bn), which has been brought …
TATNEFT Continues to Develop Cooperation with JSC “Ozenmunaygas”
Under the memorandum, signed in 2012, the experts of the Kazakh Oil Company “OMG” and TATNEFT Company introduce new technologies into operation. 20 chain drives of PTS80 type were put into operation. Compared to the conventional sucker rod pumping unit the advantages of PTS80 drives include reduction of dynamic loads …