Press Releases

27.10.2017

Operating results of KMG EP for the first nine months of 2017

JSC KazMunaiGas Exploration Production (“KMG EP” or “Company”) announces its operating results for the first nine months of 2017.

Production

KMG EP, including its stakes in Kazgermunai (“KGM”), Karazhanbasmunai (“CCEL”) and PetroKazakhstan Inc. (“PKI”), produced 8,884 thousand tonnes of crude oil (239 kbopd) in the first nine months of 2017, a 3% decrease over the same period of 2016.

Ozenmunaigas JSC (“OMG”) produced 4,092 thousand tonnes (110 kbopd), a 2% decrease year on year, mainly due to fewer wells drilled and the performance of existing well stock. Embamunaigas JSC (“EMG”) produced 2,117 thousand tonnes (57 kbopd), 0.2% less than in the same period of 2016. The total volume of oil OMG and EMG produced was 6,209 thousand tonnes (167 kbopd), a 1% decrease compared to the same period of 2016.

The Company’s share of production from KGM, CCEL and PKI for the first nine months of 2017 amounted to 2,675 thousand tonnes of crude oil (72 kbopd), 6% less than in the same period of 2016. This was mainly driven by a natural decline in oil production at PKI, which produced 13.5% per day less than in the same period of 2016.

Crude oil supplies and sales of oil products

In the first nine months of 2017, the Company’s combined sales from OMG and EMG were 6,056 thousand tonnes (160 kbopd). Of these crude oil sales, 4,200 thousand tonnes (111 kbopd) were exported and 1,856 thousand tonnes (49 kbopd) were sold to the domestic market, equivalent to 31% of the total sales volume. In the same period of 2016, the Company sold 40% of crude oil in the domestic market.

Out of 1,856 thousand tonnes (49 kbopd) of crude oil supplied by OMG and EMG to the domestic market, 1,437 thousand tonnes (38 kbopd) were supplied to Atyrau Refinery (ANPZ) and 419 thousand tonnes (11 kbopd) were supplied to Pavlodar Refinery (PNHZ).

Under the independent oil processing scheme, sales of oil products for the first nine months of 2017 were 1,774 thousand tonnes. For more details about volumes of sales of oil products please see Table No.2.

The Company’s share in sales from CCEL, KGM, and PKI amounted to 2,552 thousand tonnes of oil (69 kbopd). Of this, 1,045 thousand tonnes (27 kbopd) were exported with the remaining 1,506 thousand tonnes (42 kbopd) supplied to the domestic market, equivalent to 59% of total sales volume.

 

Table No.1. Production and sales of oil in the first nine months of 2017

 

 

ktonnes

 

 

 

kbopd

 

9M2016

9M2017

 

y/y, %

 

9M2016

9M2017

Production

 

 

 

 

 

 

 

OMG

4 181

4 092

 

-2%

 

112

110

EMG

2 122

2 117

 

-0.2%

 

57

57

Total from OMG and EMG

6 303

6 209

 

-1%

 

169

167

KGM, 50%

1 100

1 063

 

-3%

 

31

30

CCEL, 50%

793

801

 

1%

 

19

20

PKI, 33%

938

811

 

-14%

 

27

23

Total from joint ventures

2 831

2 675

 

-6%

 

77

72

Total oil production

134

8 884

 

-3%

 

246

239

               

Crude oil sales 

 

 

 

 

 

 

OMG and EMG

             

Uzen-Atyrau-Samara

2 078

2 458

 

18%

 

55

65

CPC

1 665

1 742

 

5%

 

44

46

Export

3 743

4 200

 

12%

 

99

111

Atyrau Refinery

1 981

1 437

 

-27%

 

52

38

Pavlodar Refinery

559

419

 

-25%

 

15

11

Domestic market

2 540

1 856

 

-27%

 

67

49

Total from OMG and EMG

6 283

6 056

 

-4%

 

166

160

Export, %

60%

69%

 

 

 

 

 

Domestic market, %

40%

31%

 

 

 

 

 

KGM (50%)

             

Export

356

181

 

-49%

 

10

5

Domestic market

742

879

 

18%

 

21

25

Total from KGM

1 098

1 060

 

-3%

 

31

30

CCEL (50%)

 

 

 

 

 

 

 

Export

747

661

 

-12%

 

18

16

Domestic market[1]

0

20

 

100%

 

-

1

Total from CCEL

747

681

 

-9%

 

18

17

PKI (33%)

 

 

 

 

 

 

 

Export

313

203

 

-35%

 

9

6

Domestic market

611

608

 

-1%

 

17

17

Total from PKI

924

811

 

-12%

 

26

23

Total from joint ventures

 

 

 

 

 

 

 

Export

1 416

1 045

 

-26%

 

37

27

Domestic market

1 353

1 506

 

11%

 

38

42

Total from joint ventures

2 769

2 552

 

-8%

 

75

69

Export, %

51%

41%

 

 

 

 

 

Domestic market, %

49%

59%

 

 

 

 

 

               


 

 

Table No.2. Production and sales of oil products in the first nine months of 2017

 

Oil products

Production

 

Sales

ktonnes

Atyrau

Refinery

Pavlodar

Refinery

Total

 

Atyrau

Refinery

Pavlodar

Refinery

Total

80 RON gasoline

            18,55

              17,73

             36,28

 

             18,56

         20,43

    39,00

92 RON gasoline

            137,32

             88,77

            226,09

 

            139,68

95,66

  235,34

95 RON gasoline

             16,34

7,93

             24,27

 

             24,95

            8,78

    33,73

Diesel fuel

           430,81

            139,41

           570,22

 

           423,77

        140,80

  564,57

Aviation fuel

               8,00

                  -

               8,00

 

               7,99

                  -

      7,99

Total light oil products

            611,01

        253,84

       864,85

 

       614,95

265,67

  880,63

Vacuum gasoil

           239,26

                4,72

           243,98

 

           241,68

                  -

  241,68

Mazut

           437,18

             59,11

           496,30

 

           439,47

          64,55

  504,02

Bitumen

                  -

              17,63

              17,63

 

                  -

          17,63

   17,63

Total dark oil products

         676,44

            81,46

         757,90

 

         681,15

         82,17

   763,32

Liquefied gas

              10,32

              22,89

33,21

 

              10,32

          24,90

    35,22

Furnace oil

             16,35

                  -

             16,35

 

             15,14

                  -

    15,14

Sulfur

               0,70

               2,58

               3,28

 

1,31

            0,24

      1,55

Coke

             37,71

             16,81

             54,52

 

             38,85

          36,47

    75,32

Benzol

3,07

-

3,07

 

3,22

-

3,22

Others

                  -

             2,07

2,07

 

                  -

                  -

            -

Total other oil products

           68,15

            44,35

            112,50

 

            68,83

              61,61

            130,45

Losses

             81,40

             47,15

            128,55

 

-

-

           -

Total

         1 437,00

         426,80

         1 863,80

 

         1 364,94

        409,46

1 774,40

[1] CCEL has also supplied 90 thousand tonnes of bitumen (50%) within its domestic supply obligations in the first nine months of 2017 and 55 thousand tonnes in the same period in 2016.