KazMunaiGaz oil, condensate production up 1.8% in 2 mths

KazMunaiGaz oil, condensate production up 1.8% in 2 mths


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Kazakhstan’s national oil and gas company KazMunaiGaz produced 1.491 million tonnes of oil and gas condensate in the first two months of the year, up 1.8 percent from the same period last year, the company said in a press release. Oil production grew through the use new technology to increase oil recovery, according to the press release. Oil transport in the KazTransOil system grew 7.9 percent to 6.494 million tonnes. The company is the transport unit of KazMunaiGaz. Gas transport by Intergas Central Asia, another KazMunaiGaz unit, totalled 22.85 billion cubic metres, up 4.4 percent year-on-year. Oil transport is planned at 36.6 million tonnes and gas at 123.2 billion cubic metres this year. Capital investment by KazMunaiGaz totalled 9.289 billion tenge in the first two months, up 40 percent from the same period last year. That included 8.583 billion tenge invested in production. Earnings totalled 118.6 billion tenge, up 51.4 percent year-on-year.

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