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Article: KMG EP reduces oil production 3% in 9 mths (Part 2).
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- November 2, 2009
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KMG EP reduces oil production 3% in 9 mths (Part 2)
ALMATY. Nov 2 (Interfax) - Kazakh KazMunayGas EP (KMG EP) produced 8.644 million tonnes of oil in the first nine months of the year, a reduction of 3% or 266,000 tonnes compared with the same period last year, the company said in a statement.
The Ozenmunaigas and Embamunaigas affiliates produced 6.748 million tonnes of oil in the nine months, 4.5% less than in the same period last year.
KMG EP's 50% stakes in CCEL and Kazgermunai yielded 1.896 million tonnes of oil, 3% more than a year earlier.
The company's 2009 budget forecasts production to decline 2.7% compared with 2008. "The ...