KazMunayGas (KMG) reported a revenue of KZT 2.2 trillion ($4.9 bn) for 1Q24, an 18% increase compared to KZT 1.9 trillion ($4.1 bn) in the same period last year. KMG's earnings before interest, taxes, depreciation, and amortization (EBITDA) remained solid, reaching KZT 548 bn ($1.2 bn) for 1Q24. This is a slight decrease from the KZT 550 bn ($1.2 bn) reported in 1Q23.
The company's net profit, including its share of profit in jointly controlled entities and associated companies, amounted to KZT 300 bn ($667 mn) in 1Q24. This reflects an increase of over 4% compared to KZT 287 bn ($631 mn) recorded in the same period of the previous year.
KazMunayGas reported that the volume of sales of its own-produced oil and gas condensate in 1Q24 reached 6.1 mn tons. This represents a 3.2% increase compared to the same period last year.
Earlier, Daryo reported that KazMunayGas (KMG) announced an investment of $154 mn for the redevelopment of the Uzen and Karamandybas oil fields in the Kazakhstan's Mangystau region. This initiative aims to increase the production capacity of these fields.
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