Member Info for MgBRG96

The implementation of a joint project between the national company KazMunayGas (KMG) and the US-based ExxonMobil will make it possible to increase oil production at the Tengiz field in the Atyrau region to 40 million tons per year, Report informs referring to Kazakh media.

This issue was discussed during a meeting between KMG Chairman of the Board Magzum Mirzagaliyev and ExxonMobil Senior Vice President John Whelan.

“Current issues regarding the implementation of joint projects were discussed. In particular, construction is currently at the final stage as part of the future expansion project (wellhead pressure management project) at the Tengiz field, which should ensure an increase in oil production to 40 million tons per year,” reads a message from KMG.

The parties confirmed the importance of ensuring reliable oil exports through the CPC pipeline, and also noted the fruitful joint work on diversifying export routes, including in the Baku-Tbilisi-Ceyhan (BTC) direction.

They reviewed the issue of Kashagan development and emphasized the strategic need for timely implementation of further stages of the field’s development.

By the end of this year, the volume of Kazakh oil transported via BTC will be increased to 1.1 million tons.

https://report.az/en/energy/kazakhstan-exxonmobil-eye-increasing-production-at-tengiz-to-40m-tons/

The implementation of a joint project between the national company KazMunayGas (KMG) and the US-based ExxonMobil will make it possible to increase oil production at the Tengiz field in the Atyrau region to 40 million tons per year, Report informs referring to Kazakh media.

This issue was discussed during a meeting between KMG Chairman of the Board Magzum Mirzagaliyev and ExxonMobil Senior Vice President John Whelan.

“Current issues regarding the implementation of joint projects were discussed. In particular, construction is currently at the final stage as part of the future expansion project (wellhead pressure management project) at the Tengiz field, which should ensure an increase in oil production to 40 million tons per year,” reads a message from KMG.

The parties confirmed the importance of ensuring reliable oil exports through the CPC pipeline, and also noted the fruitful joint work on diversifying export routes, including in the Baku-Tbilisi-Ceyhan (BTC) direction.

They reviewed the issue of Kashagan development and emphasized the strategic need for timely implementation of further stages of the field’s development.

By the end of this year, the volume of Kazakh oil transported via BTC will be increased to 1.1 million tons.

https://report.az/en/energy/kazakhstan-exxonmobil-eye-increasing-production-at-tengiz-to-40m-tons/

Most aren't buying what PH is saying? Well I actually that is incorrect, the confidence vote that took place proved that.

PH has actually delivered, we're sat on 1TCF of gas and the company has had to evolve so the plan has actually had to change, the company is small management wise so needs to concentrate on what's important at this time and thats monetising the gas. We're also in the process of a farm in campaign that is backed by an independent company specialising in that, on top of that there's he carbon play which is highly attractive in these green times. Also look at the shares in issue, compared the majority of E&P oil companies we have a relatively low number in circulation, the majority of other favoured companies are sat on multi billions of shares, they're only attractive because people are following the pundits.

Those that are on here knocking the company, PH and what ever else they're unhappy with probably don't have the intellect to sit and look at all the information presented over the last 12 months and come up with a logical argument other than its PHs fault because they're purely focused on the SP. If Block gets this right it'll rerate however Bigoffer Bitsa etc etc more than likely haven't even looked at an RNS they've relied on the boards and pundits.

Block is massively unloved and off many radars, thats because it hasn't attracted the dream chasers who follow the herd.