Middle East Economic Survey

VOL. LII

No 49

7-Dec-2009

CASPIAN

KMG EP To Double Capex In 2010

KazMunaiGas Exploration Production (KMG EP), upstream investment subsidiary of Kazakh state firm KazMunaiGaz (KMG), has decided to double its 2010 investment budget to $605mn, according to the companys Chief Financial Officer Shane Drader. He told reporters on 30 November that KMG EP capital outlay in 2009 is expected to amount to $302mn. The spending increase will be made despite a recent decline in...