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KazMunayGas announces H1 2011 results

23 august 2011, 00:32
0
KazMunayGas building in Astana. Photo courtesy of astana.kz
KazMunayGas building in Astana. Photo courtesy of astana.kz
Crude oil and condensed gas produced by KazMunayGas Group for the H1 2011 made up 10.67 million tons, 0.5% down as compared to the like period of 2010, Novosti Kazakhstan reports, citing the Company’s Press Service.

Natural gas production for the period totaled 1.4 million tons, 2% up against the same period of 2010.

Oil transported via the major main pipelines amounted to 33.7 million tons, 3% up against the like period of 2010. Maritime oil shipping operations for the period totaled 4.2 million tons, 24% up.

Gas transportation made up 54.3 billion cubic meters, 3% up.

As of July 1, 2011 consolidated oil processing (including Rompetrol Group) made up 7.4 million tons, 5% down as compared to the like period of 2010. The Company’s share of oil processed at three Kazakhstan-based refineries based in Shymkent, Pavlodar and Atyrau made up 5.3 million tons.

KazMunayGas National Company is the owner of 44 oil and gas onshore fields in Mangistau and Atyrau regions. The production divisions of the company have been in operation for more than 90 years. The Company accounts for 65% of overall oil transportation, 100% of gas transportation, 50% of tanker transportation in Kazakhstan. 100 per cent of the Company’s shares belong to the National Sovereign Wealth Fund Samruk-Kazyna.

“In 2010 the Company reached all the targets in terms of production output and financial indicators. Oil processing at the three refineries reached its peak level since independence, making up 13.7 million tons. The Company’s profit totaled over $2 billion, 2.5 times up against 2009. Tax proceeds from the Company made up $2.8 billion. The Company allocated a total of $1.3 million for social projects”, President Kairgeldy Kabyldin had said June 1.

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