KazMunaiGaz E&P pumps up volume
Kazakhstan's state-run producer KazMunaiGaz Exploration & Production has pumped up its output in the first quarter by 26.4% to 233,500 barrels of oil per day.
The company said the booster comes on the back of a series of deals which saw it take a 50% stake in Kazgermunai and CITIC Canada Energy last year. Excluding acquisitions, the group's output in the quarter reached 186,300 barrels per day a slight year-on-year rise.higher than previous year's level.
The company said it expects output for 2008 to increase by 13.7% to 242,500 bpd, including 191,000 bpd from its core assets and 51,400 bpd contribution from Kazgermunai and CITIC Canada.