National Company KazMunayGas (Kazakhstan) announces increasing volume of oil dispatched through sea terminal to 10 m tons

/KASE, June 13, 12/ - JSC "National Company "KazMunayGas" (Astana), whose bonds are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of June 12, 2012: quote Beginning from 2009 the volume of oil dispatched through the Midia sea terminal where National Company KazMunayGas invested over USD150 m, reached 10 m tons this year. The entire volume is refined at Petromidia refinery. This is the first terminal build on the Black Sea. "Creating a direct link between the terminal and the plant we managed to optimize the oil delivery process and considerably decrease technical losses and expenses related to unloading of commodity. The maximum throughput capacity of the terminal makes up 24 m tons/year and that volume can cover the demand of Romanian refineries", - says Ioan Taus, General director of Midia sea terminal. Lying around 8.6 km away from the plan the oil terminal can accept vessels with deadweight of up to 160,ooo tons. The unloading is carried out via a subsea pipeline connected to an accumulating tank at Petromidia refinery. The terminal allows reducing the distance by almost 33 km (compared with the old route via Constance). As a result the company saves up to 5 dollars on each ton of oil delivered to the plant. Since 2001 refineries of Rompetrol Group processed 27 million tons of crude oil. This year's objectives - to complete the capacity upgrading to 5 m tons a year. The Rompetrol Group, since 2007 part of "KazMunayGas" group, is an international oil company operating in 12 countries, including Romania, France, Spain and South-Eastern Europe. Main operations - oil refinery, marketing and trade, exploration activities, upstream. unquote [2012-06-13]