Operating Results of KMG EP for the First Nine Months of 2017

Source Press Release
Company KazMunaiGas Exploration ProductionPetroKazakhstan 
Tags Strategy - Other, Strategy - Chemicals, Upstream Activities, Strategy - Upstream, Capital Spending, Strategy - Corporate, Financial & Operating Data
Date October 25, 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  9 134  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 
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]  20    100%   
Total from CCEL  747  681    -9%    18  17 
PKI (33%)               
Export  313  203    -35%   
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  
Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd