Press Releases

26.01.2018

Operating results of KMG EP for 2017

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

Production

KMG EP, including its stakes in Kazgermunai (“KGM”), Karazhanbasmunai (“CCEL”) and PetroKazakhstan Inc. (“PKI”), produced 11,867 thousand tonnes of crude oil (240 kbopd) for 2017, a 2% decrease over 2016.

Ozenmunaigas JSC (“OMG”) produced 5,480 thousand tonnes (111kbopd), a 1% decrease as compared to 2016 mainly due to lower level of production from the existing well stock. Embamunaigas JSC (“EMG”) produced 2,840 thousand tonnes (57kbopd), a 0.3% increase as compared to 2016. The total volume of oil OMG and EMG produced was 8,320 thousand tonnes (168kbopd), a 1% decrease compared to production for 2016.

The Company’s share in production from KGM, CCEL, and PKI for 2017 amounted to 3,547 thousand tonnes of crude oil (72kbopd), 6% less than in 2016. This was mainly driven by a natural decline in oil production at PKI and KGM.

Crude oil supplies and sales of oil products

In 2017, the Company’s combined sales from OMG and EMG were 8,233 thousand tonnes (163kbopd). Of these crude oil sales, 5,700 thousand tonnes (113kbopd) were exported and 2,533 thousand tonnes (50kbopd) were sold to the domestic market, equivalent to 31% of the total sales volume. In 2016, the Company sold 41% of crude oil in the domestic market.

Out of 2,533 thousand tonnes (50 kbopd) of crude oil supplied by OMG and EMG to the domestic market, 1,909 thousand tonnes (38 kbopd) was supplied to Atyrau Refinery and 624 thousand tonnes (12 kbopd) was supplied to Pavlodar Refinery.

Under the independent oil processing scheme, sales of oil products in 2017 was 2,388 thousand tonnes. For more details on oil products sales, please see Table No.2 below.

The Company’s share in the sales from KGM, CCEL, and PKI amounted to 3,414 thousand tonnes of crude oil (70 kbopd). Of this, 1,443 thousand tonnes (28 kbopd) were exported with the remaining1,971 thousand tonnes (42 kbopd) supplied to the domestic market, equivalent to 58% of total sales volume.

The structure of Company’s share in the sales from KGM, CCEL and PKI in 2017 has changed as compared to 2016 in the following manner: the share of export supplies from the total sales volume has decreased from 50% to 42%; the share of domestic supplies has increased from 50% to 58%.

Table No. 1. Production and sales of oil for 2017

 

 thousand tonnes

 

kbopd

 

2016

2017

y/y, %

2016

2017

Oil production volumes

 

 

 

 

 

OMG

5 555

5 480

-1%

112

111

EMG

2 832

2 840

0,3%

57

57

Total from OMG and EMG

8 387

8 320

-1%

169

168

KGM, 50%

1 468

1 400

-5%

31

30

CCEL, 50%

1 064

1 071

1%

19

20

PKI, 33%

1 235

1 077

-13%

26

23

Total from joint ventures

3 767

3 547

-6%

76

72

Total oil production

    12 154

   11 867

  -2%

245

240

Crude oil sales 

       

OMG and EMG

         

Uzen-Atyrau-Samara

2 797

3 412

22%

55

68

CPC

2 149

2 288

16%

42

45

Export

4 946

5 700

15%

97

113

Atyrau Refinery

2 578

1 909

-26%

51

38

Pavlodar Refinery

881

624

-29%

17

12

Domestic market

3 459

2 533

-27%

68

50

Total from OMG and EMG

8 408

8 233

-2%

165

163

Export, %

59%

69%

 

   

Domestic market, %

41%

31%

 

 

 

KGM (50%)

   

 

 

 

Export

434

250

-42%

9

5

Domestic market

1 031

1 144

11%

22

24

Total from KGM

1 465

1 394

-5%

31

29

CCEL (50%)

 

 

 

   

Export

974

926

-5%

18

17

Domestic market[1]

19

20

5%

0

0

Total from CCEL

993

946

-5%

18

17

PKI (33%)

 

 

 

   

Export

424

267

-37%

9

6

Domestic market

794

807

2%

17

17

Total from PKI

1 218

1 074

-12%

26

23

Total from joint ventures

 

 

 

   

Export

1 832

1 443

-21%

36

28

Domestic market

1 844

1 971

7%

39

42

Total from joint ventures

3 676

3 414

-7%

75

70

Export, %

50%

42%

 

   

Domestic market, %

50%

58%

 

   

 

 

 

 

 

 

[1] As part of its domestic supply obligations, CCEL has also sold 117 ktonnes of bitumen (50%) for 2017 and 55 ktonnes (50%) for 2016.

Table No. 2. Production and sales of oil products for 2017

Oil products

Production

 

Sales

ktonnes

Atyrau

Refinery

Pavlodar

Refinery

Total

 

Atyrau

Refinery

Pavlodar

Refinery

Total

80 RON gasoline

21,71

17,75

39,46

 

21,72

21,17

42,89

92 RON gasoline

191,48

123,49

314,97

 

195,65

130,14

325,78

95 RON gasoline

22,79

10,85

33,64

 

28,70

11,91

40,62

Diesel fuel

554,92

175,30

730,22

 

561,03

165,40

726,43

Aviation fuel

9,43

-

9,43

 

9,78

-

9,78

Total light oil products

800,33

327,39

1 127,71

 

816,87

328,62

1 145,49

Vacuum gas oil

295,74

28,12

323,86

 

298,92

28,28

327,20

Mazut

615,96

91,59

707,54

 

622,50

94,81

717,31

Bitumen

-

18,76

18,76

 

-

18,76

18,76

Total dark oil products

911,69

138,46

1 050,16

 

921,42

141,84

1 063,26

Liquefied gas

14,79

29,72

44,51

 

14,79

32,04

46,83

Furnace oil

23,20

22,90

46,09

 

22,89

18,32

41,21

Sulfur

0,87

3,28

4,14

 

1,31

0,24

1,55

Calcinated coke

22,42

-

22,42

 

22,43

-

22,43

Total coke

24,55

24,10

48,66

 

24,02

39,87

63,89

Others

3,69

16,93

20,62

 

3,65

-

3,65

Total other oil products

89,52

96,92

186,44

 

89,09

90,47

179,56

Losses

107,45

68,61

176,06

 

-

-

-

Total

1 909,00

631,38

2 540,38

 

1 827,38

560,94

2 388,32