KMG chief predicts decline in oil production

ASTANA. KAZINFORM - Chairman of the Board of JSC NC "KazMunayGas" Sauat Mynbayev predicted a further decline in oil production in Kazakhstan during the press conference in Central Communications Service.

"According to the data announced by the Ministry of Energy, in 2016 Kazakhstan will further decline oil production volumes. As for KMG, hopefully, we will not decrease the production," S. Mynbayev said.
Mr. Mynbayev stressed that the reduction of production volumes in the whole country occurred at the expense of smaller oil companies and "Karachaganak Petroleum Operating".
Earlier it was reported that in 2015 KMG has increased its oil production by 1% compared with 2015.
KMG group of companies' consolidated volume of oil and gas condensate production amounted to 22 million 670 thousand tons in 2015. The production of natural and associated gas reached 7 255 million cubic meters.