KazMunaiGas Exploration Production (KMG EP) has given its spending plans another boost starting next year, as the London-listed player aims to increase production.
KMG EP said on Wednesday it increased its capital expenditure plans for next year to 119 billion Tenge ($330 million), 15% higher than the expected capex for 2016.
The new budget assumes a Brent price of $45 per barrel and an exchange rate of 360 Tenge per US dollar, KMG EP said.
