KazMunaiGaz EP revises down oil output target

摘要

Moscow—Kazakhstan’s KazMunaiGaz Exploration Production, the upstream arm of state-run KazMunaiGaz, has reduced the 2014 target for crude output at its core producing assets to 8.15 million mt (163,000 b/d) from an earlier proposed level of 8.6 million mt (173,000 b/d). As a result, the target for the next year is now roughly in line with KazMunaiGaz EP’s expected production from its UzenMunaiGaz and EmbaMunaiGaz units for 2013. The outlook change is due to a revision of the 2014 output plan for UzenMunaiGaz to 108,000 b/d, the company said, without providing details of the earlier set target. The revision came despite the fact that in January-November crude production at Uzen- MunaiGaz grew by 5% year on year, KazMunaiGaz EP said.