KMG EP said its planned production for next year is expected to be down 3% from 2014 due to a decline at PetroKazakhstan (PKI).
It updated its board of directors at a meeting earlier this week in which it assumed a 2015 budget based on a Brent oil price of $70.
The company also said it had not yet received an approved schedule for deliveries to Russia for 2015.
A spokesman said: “Planned production in 2015 is expected to be 5.4 million tonnes (109 kbopd) from JCS OzenMunaiGas (OMG) and 2.8 million tonnes (57 kbopd) from JCS EmbaMunaiGas (EMG).
“Thus, the total planned production volume in 2015 from OMG and EMG is expected to be 8.2 million tonnes (166 kbopd) or 1% more than planned production in 2014.
“The Company’s share in the planned production of Kazgermunai (KGM), CCEL (CCEL) and PetroKazakhstan Inc. (PKI) in 2015 is estimated to be 4.0 million tonnes (81 kbopd) or 3% less than planned production in 2014 due to a natural decline of production at PKI.
“The Company expects the annual volume of oil supply to the domestic market in 2015 to be 3.0 million tonnes (59 kbopd) which will be supplied to Atyrau and Pavlodar refineries.
“An additional 100 thousand tonnes of oil will be processed at the Atyrau refinery for the Company’s own use.
“The Company’s share in the planned volume of oil supply to the domestic market in 2015 from KGM, CCEL and PKI is 2.2 million tonnes (45 kbopd) or approximately 55% of total sales from these companies.”
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