KazMunayGas Operating and Financial Results for 2019
National Company KazMunayGas JSC, Kazakhstan's national vertically integrated oil and gas company, announced its operating and financial results for 2019.
Highlights for 2019:
- Oil and gas condensate production was stable year-on-year and amounted to 23,618 thous. tonnes or 26% of total production in Kazakhstan;
- KMG announces its reserves, calculated in accordance with PRMS international standards, for the first time ever. KMG’s proved plus probable hydrocarbon reserves amounted to 676 mln tonnes of oil equivalent (5,220 mmboe) as of 31 December 2019;
- Oil and gas transportation segment was relatively stable at 78,066 thous. tonnes of oil and 103,494 bln m³ of gas transported;
- Domestic demand for light petroleum products was fully covered and further volumes were exported to European and Central Asian markets;
- To promote greater transparency, in 2019, the Company for the first time published a Carbon Disclosure Project on greenhouse gas emissions, which discloses KMG’s performance and plans for the climate change adaptation.