Razvedka Dobycha KazMunaiGas reduces its OMG oil extraction forecast for 2014 by 7.8%

Razvedka Dobycha KazMunaiGas (RD KMG) reduced its OMG (OzenMunaiGas) oil extraction forecast for 2014 to 5.35 million tons from 5.8 million tons, the press service reports.

“The Board of Directors approved the new plan of extraction at OMG in the volume of 5.35 million tons of oil (108 thousand barrels per day) in 2014. The planned extraction at Embamunaigas remained at the previous level of 2.8 million tons (57 thousand barrels per day). Reconsideration of the extraction at OMG is connected with low extraction level within the last three years, including 2011 when the extraction sharply reduced due to the labour conflicts in OMG”, is said in the press release.