KAZENERGY-KIOGE
KazMunayGas 1H 2021
Operational results
Highlights for the first half of 2021 in comparison with the first half of 2020:
- Oil and gas condensate production amounted to 10,738 thous. tonnes as compared to 11,345 thous. tonnes in the first half of 2020;
- The transportation volume of oil amounted to 36,949 thous. tonnes as compared to 37,328 thous. tonnes in the first half of 2020;
- Transportation volume of gas increased by 2.7% to 46 411 million m³ in the first half of 2021;
- Hydrocarbons refining volumes at the Kazakh and Romanian refineries has grown significantly to 9,704 thous. tonnes in comparison with 8,290 thous. tonnes in previous year.
Operating results presented in accordance with KMG's ownership interest in joint ventures and associates and 100% of results for consolidated subsidiaries, unless specifically indicated otherwise.
Upstream
The volume of oil and gas condensate production by KMG in the first half of 2021 amounted to 10,738 thous. tonnes (445 kbopd), showing a decrease of 5.3% compared to the first half of 2020. The volume of production of associated and natural gas decreased by 5.6% to 4,079 million m³.
Oil production at Tengiz decreased by 5.1% compared to the first half of 2020, amounting to 2,707 thousand tons (119 kbopd), and gas production declined by 4.2%, amounting to 1,505 million m³.
A significant impact on the decline in oil production was made by the obligations assumed to limit production under the OPEC + agreement.
Oil production at Kashagan decreased by 8.9% to 613 thous. tonnes of oil (27 kbopd), while gas production decreased by 7.9% and amounted to 374 million m³. The decrease in production compared to the same period of the previous year was due to the assumed obligations to limit production under the OPEC + agreement.
Production of liquid hydrocarbons at Karachaganak decreased by 4.1% and amounted to 539 thous. tonnes (23 kbopd). Gas production amounted to 1,003 million m³ and decreased by 3.9% compared to the first half of 2020. The decline in production was due to restrictions on the intake of gas sent for processing to the Orenburg Gas Processing Plant, as well as due to a decrease in gas re-injection capacity due to high ambient temperatures in June this year.
Oil production at operating assets decreased by 5.2% to 6,878 thous. tonnes (275 kbopd) and gas production decreased by 8.0% to 1,196 million m³. The decrease in production volumes was mainly due to the assumed obligations to limit production under the OPEC + agreement, as well as a natural decline at production at mature fields.