Nur-Sultan, 22 August 2019 – Joint-stock (JSC) National Company (NC) KazMunayGas (“KMG” or “KMG Group”), Kazakhstan's national vertically integrated oil and gas company, announces its operating and financial results for the first half of 2019 according to International Financial Reporting Standards (IFRS).

Operating Highlights for the first half of 2019:

  • Oil and gas condensate production was down 0.5% year-on-year to 11,704 thous. tonnes (484 thous. barrels of oil per day);
  • Natural and associated gas production was up 0.9% year-on-year to 4,160 mln m³;
  • Oil transportation increased by 5.0% year-on-year to 38,949 thous. tonnes;
  • Gas transportation was down 8.7% year-on-year to 50.1 bln m³;
  • Refinery volume was up 1.7% year-on-year to 9,998 thous. tonnes. Volume includes refinery volume in Kazakhstan of 6,670 thous. tonnes and KMG International (“KMGI”) of 3,328 thous. tonnes in Romania. Total oil products production was up 1.6% year-on-year to 9,360 thous. tonnes;
  • Sales volume of crude oil produced by KMG was up 0.5% year-on-year to 11,641 thous. tonnes.

Financial Highlights for the first half of 2019:

  • Revenue was up 1.4% year-on-year to 3,403 bln tenge (USD 8,971 mln);
  • Net profit was up 73.0% year-on-year to 622 bln tenge (USD 1,641 mln);
  • Capital expenditure was down 5.8% year-on-year to 167 bln tenge (USD 440 mln);
  • EBITDA  was up 20.5% year-on-year to 1,095 bln tenge (USD 2,888 mln);
  • Net debt was up 15.0% and amounted to 2,491 bln tenge (USD 6,547 mln) compared to 31 December 2018;
  • FCF adjusted5 soared by 77.7% and amounted to 128 bln tenge (USD 339 mln).

Full text of the press release is available here.


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