Kazakhstan’s oil and gas company exports over 70% of produced oil

Oil export sales of Kazakh companies Ozenmunaigas and Embamunaigas, the subsidiaries of the KazMunaiGas Exploration and Production (KMG EP), totalled 4,402 million metric tons in 9 months of 2014, or 74 percent of total oil sales, the KMG EP said.
“Aside from that, some 50,000 metric tons of oil was delivered to Russia in September for fulfilment of commitments on counter oil supplies in line with the intergovernmental agreement between the two countries,” the company said.
The KMG EP also noted that according to preliminary calculations, the net sales price (netback) of oil, supplied to Russia, is below the net sales price of the oil exported via the Uzen-Atyrau-Samara pipeline and a pipeline of the Caspian Pipeline Consortium.
The volumes of counter deliveries to Russia are set by the Energy Ministry of Kazakhstan.
The KMG EP has not yet received the approved schedule of deliveries to Russia for the Q4, 2014 or for 2015.
“The Ozenmunaigas and Embamunaigas oil supplies to domestic market in 9 months of 2014 stood at 1,505 million metric tons (40,000 barrels per day). The company expects that in 2014 the oil supplies of the Ozenmunaigas and Embamunaigas to the domestic market will amount to 1.9 million metric tons,” the KMG EP said in a message.
Aside from that, the sales of Kazgermunai JV, Karazhanbasmunai (CCEL) and PetroKazakhstan Inc, the companies owned by KMG EP, totalled 3,089 million metric tons of oil (85 million barrels per day), including 1.519 million metric tons of oil (43,000 barrels per day) supplied for the export.
This accounts for 49 percent of the companies’ total sales.
The KMG EP is among the top three oil producers in Kazakhstan. The company’s production, including its shares in Kazgermunai, Karazhanbasmunai and PetroKazakhstan Inc. amounted to 12.4 million metric tons (251,000 barrels per day) in 2013.
The consolidated volume of proved and probable reserves of the KMG EP, given its shares in joint ventures, totalled 200 million metric tons (1.5 billion barrels) in late 2013, some 148.8 million metric tons (1.1 billion barrels) of which accounted for the Ozenmunaigas, Embamunaigas and Ural Oil and Gas LLP.