Offsetting natural decline in production rates
KMG implements a range of measures across its operating assets to enhance operational efficiency and process discipline, release trapped reserves in order to maximise well productivity and improve the technology and economics of well interventions.
Oil and gas are produced at KMG’s operating assets, as well as from mega projects where KMG has non-operating interests.
KMG participates in all major oil and condensate production projects in Kazakhstan: it has interests of 20%, 10% and 8.44% in Tengiz, Karachaganak and Kashagan, respectively.
For oil production mega projects, KMG has partnered with a number of global majors: Chevron Corp, Exxon Mobil Corp, Royal Dutch Shell PLC, Eni SpA, TOTAL SA, Inpex Corp, China National Petroleum Corp (CNPC), and PJSC LUKOIL.
|OPERATING ASSETS||KMG interest|
|JSC OzenmunaigasAlso includes KazGPZ LLP (condensate).||100%|
|JV Kazgermunai LLP||50%|
|JSC PetroKazakhstan Inc.||33%|
|Kazakhoil Aktobe LLP||50%|
|Amangeldy Gas LLP (condensate)||100%|
|MEGA PROJECTS (NON-OPERATED ASSETS)||KMG interest|
|Tengiz (Tengizchevroil LLP)||20%|
|Kashagan (North Caspian Operating Company N.V.)KMG has a 50% interest in KMG Kashagan B.V., which in turn holds a16.88% interest in the Kashagan mega project.||8.44%|
|Karachaganak (Karachaganak Petroleum Operating B.V.)||10%|
In 2019, KMG’s oil and condensate production remained stable at 23.6 mln tonnes, or 485 kbopd, almost flat year-on-year. We reaffirmed our status as the national oil and gas leader with our share of total oil and condensate production at 26% in 2019.
Our consistently high level of oil and condensate output is supported by increased production from mega projects and effective management of KMG-operated producing assets. KMG maintains a well-balanced asset portfolio with significant growth potential. The share of operating and mega projects in total oil and condensate production was 65.5% (15.5 mln tonnes) and 34.5% (8.1 mln tonnes), respectively.