In January Mangistaumunaigas increased oil production

/Kazakhstan today, February 12, 03/ - Oil producing Mangistaumunaigas OJSC (MMG), which develops the field in Mangistau oblast, in January of 2003 produced 393 th. 700 tons of hydrocarbon raw stuff, 18 th.200 tons of oil out of them were produced over the plan. During similar period of last year oil producing enterprises produced 374 th. tons of oil. About it a correspondent of KZ-today was informed in MMG. Acording to the information of general director of MMG Sagin Krimkulov, "the work on well stock can be significantly improved, in case of increasing of volume of works on major, underground repairs of wells, setting more wells in effect". In Krimkulov's opinion, "there could be done exploitation and exploration drilling, processing of wells on new technology - hydro-breaking of seam, taken measures, which promoted to receiving of additional production". Taking into account unused reserves, in February of 2003 oil sphere workers intend to repair omission and produce in 2003 up to 4.7 m tons of oil, and in February of 2003 - 357 th. tons. In 2002 the company produced 4 m 400 th. tons of hydrocarbon raw stuff. Major shareholder of MMG OJSC is Indonesian Central Asia Petroleum Ltd., which in 1999 invested $40 m into production development, in 2000 financial investments were increased 1.5 times as much. From year to year financial investments into production development increased by about 50%. [2003-02-12]