Middle East Economic Survey
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...