KMG: Only 1% growth in oil output in 2015

“As for the last year results, oil output increase made 1% only. Production target was also achieved, and KMG could avoid decline in production,” Mynbayev said.

According to him, year 2015 was not bad for KMG. “We have some profit. However, we should not forget about effect of the devaluation,” he added.

As the press service of the company informed, consolidated volume of oil and gas condensate produced by the KMG companies made 22,670,000 tons in 2015. Natural and associated gas production volumes reached 7,255,000,000 cubic meters.

Meanwhile, refining output in 2015 made 16,295,000 thousand tons. The share of KMG at the domestic retail market of oil products as of January 1, 2016 made 16%. In 2018, KMG plans to raise its market share at least by 20%, and up to 32% by 2022.

Besides, transportation of gas via main pipelines reached 102,750,000,000 cubic meters. The share of international transit in this volume made 75,023,000,000 cubic meters. Internal transportation volumes reached 14,957,000,000 cubic meters and transportation for export made 12,770 cubic meters.