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World Oil Price Of $40/bl Makes KazMunaiGas Brown-Fields Unprofitable Kazakhstan News

World Oil Price Of $40/bl Makes KazMunaiGas Brown-Fields Unprofitable

When the world price of oil fell below $40/bl, the brown-fields owned by KazMunayGas (KMG) ceased to pay off, as reported by Gleb Luxembourg, the KMG deputy chairman for prospective production development. “With oil prices reaching the mark of $40/bl, the brown-fields are no longer profitable. However, no one says that we will close them, because when the price of a barrel goes up to $50, these fields will already reach the level of profitability," he stressed. December 25 2015, 15:43 1 445 просмотрs