News 2015
April 2015KMG EP
JSC KazMunaiGas Exploration Production held its regular Board of Directors meeting on March 30, 2015. During the meeting the Board approved the revision of the 2015 budget and approved the meeting agenda for the Annual General Meeting of Shareholders set for 19 May 2015.
The Board of Directors approved the revision of the 2015 budget based on an average Brent oil price of US$50 per barrel. Planned production in 2015 is expected to be 5.4 million tonnes (108 kbopd) from JSC OzenMunaiGas (OMG) and 2.8 million tonnes (56 kbopd) from JSC EmbaMunaiGas (EMG).
The total planned production volume in 2015 from OMG and EMG is expected to be 8.2 million tonnes (164 kbopd), which is 69 thousand tonnes or 1% less than the 2015 planned production volumes approved in December 2014. The Company’s share in the planned production of Kazgermunai (KGM), CCEL (CCEL) and PetroKazakhstan Inc. (PKI) in 2015 remained unchanged compared to the earlier approved budget and is expected to be 1.5 million tonnes (32 kbopd), 1.1 million tonnes (19 kbopd) and 1.4 million tonnes (31 kbopd), respectively.