OREANDA-NEWS. JSC KazMunaiGas Exploration Production (“KMG EP” or “Company”) announces its operating results for the first six months of 2015. KMG EP, including its stakes in Kazgermunai (“KGM”), CCEL (“Karazhanbasmunai”) and PetroKazakhstan Inc. (“PKI”), produced 6,122 thousand tonnes of crude oil (250 kbopd) in the six months of 2015, an 0.3% increase over the same period of 2014.

Ozenmunaigas JSC (“OMG”) produced 2,722 thousand tonnes (111 kbopd), 95 thousand tonnes (4 kbopd) or 4% increase in comparison to the same period of 2014. Embamunaigas JSC (“EMG”) produced 1,385 thousand tonnes (56 kbopd), slightly less than in the same period of 2014. The total volume of oil OMG and EMG produced was 4,107 thousand tonnes (167 kbopd), a 2% increase compared to production for the same period in 2014.

The Company’s share in production from CCEL, KGM, and PKI for the first six months of 2015 amounted to 2,015 thousand tonnes of crude oil (83 kbopd), 3% less than in the same period of 2014, in line with the production plan.

In the first six months of 2015, the Company’s combined sales from OMG and EMG were 4,162 thousand tonnes (166 kbopd). Combined export sales from OMG and EMG were 2,365 thousand tonnes (94 kbopd). Domestic sales amounted to 1,231 thousand tonnes (49 kbopd) of crude oil and oil products of which 1,101 thousand tonnes (44 kbopd) were supplied to Atyrau Refinery from OMG and EMG; 96 thousand tonnes (4 kbopd) were supplied to Pavlodar Petrochemical Plant from EMG; and 34 thousand tonnes (1.4 kbopd) of oil products were sold in the domestic market.

Furthermore, 566 thousand tonnes of crude oil (23 kbopd) were shipped to Russia to fulfill obligations under the counter-oil supply agreement between the Government of Kazakhstan and the Russian Government. Sales volumes shipped to Russia are specified by the Ministry of Energy of Kazakhstan. The Company expects that domestic sales from OMG and EMG in 2015 will amount to 2.3 million tonnes (46 kbopd).

The Company’s share in the sales from CCEL, KGM, and PKI was 1,977 thousand tonnes of crude oil (81 kbopd), including 899 thousand tonnes (36 kbopd) supplied to export markets, or 45% of total sales volume. The domestic sales volume was 1,019 thousand tonnes (43 kbopd) of which 683 thousand tonnes (29 kbopd) were supplied to Pavlodar Petrochemical Plant; 225 thousand tonnes (10 kbopd) were supplied to Shymkent Refinery; 39 thousand tonnes (1 kbopd) were supplied to Atyrau Refinery; and 72 thousand tonnes (3 kbopd) were supplied to Aktau Bitumen Plant. 70 thousand tonnes of crude oil (3 kbopd) were shipped to Russia in order to fulfill obligations under the counter-oil supply agreement between the Government of Kazakhstan and the Russian Government.

KMG EP is among the top three Kazakh oil producers. The overall production in 2014 was 12.3 million tonnes (250 kbopd) of crude oil, including the Company’s share in Kazgermunai, CCEL and PKI. The Company’s total consolidated volume of proved and probable reserves including shares in the associates, as at the end of 2014 was 177 million tonnes (1,303 mmbbl), out of which 132 million tonnes (981 mmbbl) relates to Ozenmunaigas, Embamunaigas, and Ural Oil and Gas (Rozhkovskoye field, Fyodorovskiy block). The Company’s shares are listed on the Kazakhstan Stock Exchange and the GDRs are listed on The London Stock Exchange. The Company raised over US\\$2bn in its IPO in September 2006.