News and analysis from Kazakhstan - Dec 04th 2008
energy
Zhaikmunai income up in first half of 2008
(SRI) - Kazakh LSE-listed oil producer Zhaikmunai said on Friday its net income rose 22 percent year-on-year in the first half of 2008 to $17.6 million, thanks to higher oil price and growing output.
“Production volumes increased 7 percent for the first six months of 2008 to 892,000 barrels,” the company said in a statement. At the same time, revenues from oil sales nearly doubled to $77 million, it said.
Zhaikmunai also said it had made six commercial discoveries in its licence area in northwestern Kazakhstan and submitted reserve estimates to the government.
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