KazMunayGas in 2020
Joint-stock (JSC) National Company (NC) KazMunayGas (“KMG” or “Company”), Kazakhstan's national vertically integrated oil and gas company, announced its operating results for 2020.
Alik Aidarbayev, CEO:
“2020 became a sever challenge for the whole world and the oil and gas industry in particular. The COVID-19 pandemic, and as a result, a drop in demand for energy resources and restrictions under the OPEC + agreement led to a decrease in key production indicators. In order to overcome the negative consequences of the pandemic for KMG, anti-crisis measures were developed and successfully implemented in a timely manner, which allowed the Company to significantly mitigate the impact of the crisis, while maintaining stability and potential for future development. Despite the epidemiological situation and the collapse in oil prices, the Company did not stop production activities in all streams to ensure the continuity of the production process.
While maintaining a focus on the health and safety of employees and their families, the Company has taken all necessary measures to minimize the spread of COVID-19. Moreover, despite the current challenges, we have made a significant step in our sustainable development, in confirmation of which the international rating agency Sustainalytics awarded the Company a high mark at the level of 69 points. It is also very encouraging that in 2020 no fatal accidents related to work were registered, this result was achieved for the first time in the history of the Company. In addition, the number of accidents has been significantly reduced, while the KMG injury rate for the first time is lower than the industry average indicators of the International Association of Oil & Gas Producers (IOGP).
Successful overcoming of hardships was achieved through well-coordinated teamwork and dedication of each employee to their work. I express my gratitude to all employees for their hard work, which allowed not only to pass the trials, but also creates prospects for the further development of the Company in the future.”
Highlights for 2020:
- Oil and condensate production decreased by 7.9% year-on-year to 21,752 thous.tonnes;
- Oil and gas transportation segment showed a decrease of 6.3% and 16.3% accordingly and amounted to 73,172 thous. tonnes of oil and 86,590 mln m³ of gas, respectively;
- Refining volumes at Kazakh and Romanian refineries decreased by 12.2% to 18,077 thous. tonnes.