JV “Kazgermunai” LLP summed up the results of 2023
14 february 2024
JV “Kazgermunai” LLP summed up the results of 2023
JV “Kazgermunai” LLP, like all economic entities, completed the financial year and, according to the rules of internal communications, the company held a reporting meeting of the company's management board with the workforce.
The past year has been eventful for the partnership – KGM celebrated the 30th anniversary of its foundation and extended the contract for subsurface use. The emphasis on these significant points was made in his report by First Deputy Director General Rinat Izmukhanbet, who reminded colleagues that on May 19, 2023, the term of the subsoil use contract for the Aksai field was extended until March 1, 2032, and for the Nuraly, Akshabulak Vostochny, Akshabulak Yuzhny, Akshabulak Tsentralny, Aksai Yuzhny fields until March 1 In 2034. Of course, this gave the company certain guarantees and extended its life cycle. At the same time, the accumulated oil production reached 55,165,000 tons, and Rinat Nurgozhayevich urged the team to remember that Kazgermunai has entered a stage of maturity and decline, and now all employees face new tasks, the fulfillment of which requires different approaches and efforts, responsibility and reasonableness in decision-making.
The joint venture also reached the main production indicators: overfulfilling of the oil production plan amounted to (+) 1.2 ths. tons; oil delivery (+) 3.5 ths. tons; associated gas production (+) 20.5 mln. m3, which occurred due to the commissioning of two gas wells at the Aksai Yuzhny field; delivery of commercial gas (+) 31.356 mln. m3, which is also associated with the launch on May 10, 2023 of gas supplies from the Aksai Yuzhny gas condensate field in test mode; for the production of LPG at (+) 3.1 ths. tons.
The head of the enterprise from the Kazakh side also told his colleagues about the success in replenishing stocks. So, for 3 fields: Nuraly, Aksai and Akshabulak Yuzhny, it turned out to increase the reserves of category C1 in oil by 6%, in gas by 2% of the total reserves of these three fields. According to the reserves of the C2 category, which will be transferred to the C1 category based on the results of drilling, increased by 14% and 17% for oil and gas, respectively. Information was provided on the Turgai-Paleozoic project, within the framework of which in 2019-2020 High-resolution 3D seismic was performed at the KGM fields, which resulted in the discovery of a new hydrocarbon raw materials of Paleozoic fields. The main part of this structure was located outside the company's mining allotment. In 2021, the National Company “KazMunayGas” received a geological allotment for this promising facility and laid the drilling of a deep well PZ-1 with a depth of 5,500 meters, which is planned to be drilled in 2024.
Concluding his speech, R. Izmukhanbet appealed to employees to strictly comply with safety standards and regulations. Because for JV “Kazgermunai” LLP, the main value was and remains the people working in the company, and one of the primary tasks is to preserve the lives and health of the staff. As a responsible employer, the company will continue to make every effort to ensure safe working conditions, but also expects employees to be personally responsible for their lives and health.
Makhambet Yeleussinov, Deputy General Director for Production, reported in more detail on the topic of occupational health and safety and a number of other production issues. He provided an analysis of accidents, occupational injuries and occupational diseases. In the 12 months of 2023, the company has not registered a single accident or work injury. During the reporting period, the number of medical evacuations decreased compared to 2022. 72 more occupational safety measures were carried out than planned. Makhambet Kairbekovich reminded the audience about the ten completed construction and installation work facilities, and also told about the plans of the partnership for 2024, its production goals and objectives.
The next speaker was Deputy Director General for Economics and Finance Nurbol Prmaganbetov. He stated that the average dollar exchange rate for 2023 amounted to 457 KZT/$, the price of Brent crude oil for export was $ 83 per barrel, which generally corresponded to what was planned by KGM. At the same time, oil prices on the domestic market increased by 33%, which, of course, had a positive impact on the profitability of the enterprise. Also, the volume of oil sales for export was increased by 15%, which also increased the company's revenues.
Deputy Director General for Human Resources and Social Affairs Botagoz Ashirbekova presented a report on the human resources management unit to the employees. In this section, topics such as labor discipline, filling vacant positions, bonus payments, and staff training were considered.
The final section in the report was the social section. Throughout the year, the company regularly fulfilled all internal obligations under the Collective Agreement, as well as external obligations for the socio-economic development of the Kyzylorda region. One of them was the financing of the construction of a modern multifunctional complex – the Palace of Schoolchildren in the amount of about 2.3 bln. KZT. On December 5, 2023, the ceremony of laying the first stone in the construction of this facility took place.
The reporting meeting in the question-and-answer format ended.
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