London-listed Kazakh oil and gas producer KazMunaiGas Exploration
Production said Wednesday its oil production rose 11% on the
year to 257,000 barrels a day, or 6.28 million metric tons, in the first
half of this year.
"The increase in production results from the acquisition of a
33% stake in PetroKazakhstan, which accounts for 733,000 tons," the
company said in a statement.
KMG EP's core facilities Uzenmunaigas and Embamunaigas
produced 4.32 million tons, or 175,000 barrels a day, which is 2% less
than in the same period a year earlier.
"The decline in production was mainly caused by the failure to
perform well service operations and oil field equipment repair on time
amid a strike by Uzenmunaigas workers over the period from March 4
through March 18 when some of the workers refused to get back to work,"
KMG EP said.
The company produced 11.5 million tons of oil, or 232,000
barrels a day, in 2009. Its proved and probable reserves stood at 1.7
billion barrels last year.
KMG EP's majority shareholder is Kazakh state oil and gas
company KazMunaiGas.