Kazakh oil company reveals production goals for 2023

Kazakh oil company Embamunaygas (EMG), the subsidiary of the national oil company KazMunayGas (KMG), plans to produce 2.7 million tons of oil in 2023, Trend reports, citing KazMunayGas. To achieve the target, Embamunaygas will carry out geological and technical works to secure additional production of about 195 thousand tons of oil. In addition to oil production, the company plans to extract around 225 million cubic meters of natural gas in 2023. The CEO of KazMunayGas, Magzum Mirzagaliyev, said that Embamunaygas needs to increase its efficiency to meet the targets. He noted that the company needs to analyze and address the shortcomings, which prevented EMG from reaching the quota in 2022. Earlier, former Minister of Energy of Kazakhstan, Bulat Akchulakov said that oil production reached 84.2 million tons, while 64.3 million tons of oil was exported.