Tuesday, May 21, 2024
 
 

KazMunayGaz oil and gas production stable in 2019

FILE PICTURE
The Karachaganak oil and gas field in Kazakhstan.

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NUR-SULTAN, Kazakhstan – The level of oil and gas condensate production in 2019 was stable and amounted to 23.6 million tonnes of oil and gas condensate, which corresponds to the level of production in 2018, the press service of national oil and gas company KazMunayGas said in a published report.
“The volume of oil and gas condensate produced by KMG in 2019 amounted to 23.618 million tonnes of oil (485,000 barrels per day), almost unchanged compared to the previous year. The volume of associated and natural gas production increased by 3.9% to 8.4 billion cubic metres,” the report read.
At the same time, the share of the national company KazMunayGas in the production volume of the Tengiz, Kashagan, and Karachaganak projects amounted to 8.1 million tonnes of oil, or 178,000 barrels per day, and 5.819 billion cubic metres of gas, respectively.
KazMunayGas for the first time published the results of reserves prepared in accordance with international standards PRMS – the international system for estimating hydrocarbon reserves.
According to the audit, the proven plus probable hydrocarbon reserves of KMG as of 31 December 2019 amounted to 676 million tonnes, or 5.2 billion barrels, of which 76% of the total reserves are oil and condensate.

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Co-founder / Director of Energy & Climate Policy and Security at NE Global Media

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