Kazakh oil and gas producer KazMunaiGas Exploration Production (RDGZ.KZ), or KMG EP, Friday said it produced 238,000 barrels of crude oil a day in the first six months of the year, a 19% rise on the year-earlier period.
The main reason for the increase was the acquisition of 50% stakes in Kazgermunai and Karazhanbasmunai last year, KMG EP said in a statement.
The company also said it planned to increase by over 20% the wages of "selected employee categories" at production sites, excluding the head office staff, in the second half of 2008. The wage increase would raise KMG EP's expenditure for such purposes by 4.8 billion tenge ($40 million).
"The average monthly wage increase of over 20% is aimed at compensating the Company field employees taking into account inflation in the past few years, and will help the company to retain experienced staff," KMG EP said.