Exploration Production KazMunaiGas decreases forecast of oil extraction at Ozenmunaigas in 2014 to 5.35 million tons
Exploration Production KazMunaiGas (EP KMG) has decreased forecast of oil extraction at one of its key industrial assets Ozenmunaigas (OMG) in 2014 to 5.35 million tons from 5.8 million tons, the EP KMG’s press centre reports.
“The Board of Directors approved new production plan for OMG at the level of 5.35 million tons of oil (108 thousand barrels per day) in 2014. At the same time, the production plan for Embamunaigas (EMG) was maintained at the same level – 2.8 million tons (57 thousand barrels per day). The review of the OMG’s production was mainly connected with low level of the production over the last three years, including 2011, when a dramatic fall of the production took place because of labor conflicts at OMG,” – the press release says.