May. 02. - Production Reductions in the South Turgai Basin

Source Press Release
Company PetroKazakhstan 
Tags Upstream Activities
Date May 27, 2002

Hurricane Hydrocarbons Ltd. announced that effective May 26th, its Kazakhstan subsidiary Hurricane Kumkol Munai ("HKM") and its Joint Venture with Lukoil, Turgai Petroleum, were forced to temporarily reduce their production due to full inventories and export limitations.

If crude oil exports remain at their recent rates of approximately 62,000 barrels per day (bpd) (8,000 tonnes per day (tpd)), average to date in May, it is anticipated that production will remain at reduced rates until June 18th when the Shymkent refinery is put back into operations after the annual turnaround.

The combined production of HKM and Turgai Petroleum averaged 147,290 bpd (19,015 tpd) since May 1st and their current combined production capacity is approximately 152,985 bpd (19,750 tpd).

The Kazgermunai Joint Venture, which markets its production independently, also experienced export limitations and has reduced its production to about 15,755 bpd (2,034 tpd) versus a current capacity of about 23,240 bpd (3,000 tpd).

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