Kazakhstan-based KazMunaiGas Exploration Production (KMG EP) has reported crude oil production of 239.8 thousand barrels of oil per day for the year ended December 31, 2008, a 12.4% increase compared to the crude oil production in 2007.
The company has reported that production from its core assets (Uzenmunaigas and Embamunaigas) was 190.4 thousand barrels of oil per day (kbopd), approximately the same level as in 2007.
According to preliminary data, during 2008, the company has supplied 182.6kbopd of crude oil to customers, excluding the share in supply from Kazgermunai and Karazhanbasmunai. Of this amount, 140.9kbopd was exported.
Its share in the sales volumes from its subsidiaries, Kazgermunai and CCEL, was 49.17kbopd in 2008 including 42.18kbopd supplied to export markets.
Askar Balzhanov, CEO of KMG EP, said: I am pleased to be reporting good production figures for 2008, which are primarily a result of the acquisitions of 50% interests in Kazgermunai and CCEL in 2007.
KMG EP claims to be the second largest oil producer in Kazakhstan. The Company’s production from its core assets in 2007 was 9,530 thousand tonnes of crude oil (192.17kbopd). Out of this amount 7,354 thousand tonnes (148.29kbopd) were supplied to export markets. In 2007 KMG EP acquired a 50% interest in Kazgermunai and a 50% interest in holding company CCEL (that owns Karazhanbasmunai).
