Kazakhstan's National Oil Co Increases Oil Production by 13%

According to the Kazakh press service, Kazakhstan's National Oil Company KazMunayGaz (KMG) increased its supply of oil to the domestic and export markets in 2004 by 1.0 million tons or 12.8%, totaling 8.824 million tons.

The company's chief financial officer, Nurlan Rakhmetov, told the press in Astana that KMG had exported 6.7 million tons of crude during last year, of which 715,000 tons were delivered to states of the Community of Independent States (CIS). However the biggest share of exports, 5.96 million tons, was delivered to non-CIS-states.

Oil supply for the domestic market reached 2.149 million tons, 2.106 million tons of which went to the Atyrau Oil Refinery on the Caspian Sea, in the West of Kazakhstan. KMG's supplies to the Kazakh market exceeded the scheduled amount by 433,000 tons.

In 2004, the total amount of oil transported through KMG's branch enterprise KazTransOil's pipeline system was of 38.389 million tons, given the fact that the goals set planned for 35.708 million tons. The amount transported in 2004 was 4.197 million tons, 12.3%, more than one that went through the pipeline system in 2003.

KazMunayGaz also met its target of natural gas production. The total amount of gas transported through trunk pipelines were at 121.413 billion cubic meters, which is 1.1% more than went through in 2003.

In 2004, inflow of payments and taxes from KMG into the state budget totaled KTZ106.103 billion (ca. EUR654.3 million; ca. US$848.6 million). Thus, KMG's total contribution to the state budget increased by 39.5%.

KMG is responsible for about 25% of Kazakhstan's oil production, for 80% of oil transportation through trunk pipelines and for 100% of gas transportation and tanker shipments.