KazMunaiGas E&P Q1 oil output grows 26 pct
ALMATY, April 28 (Reuters) - London-listed Kazakh oil producer KazMunaiGas Exploration and Production (KMG E&P) (KMGq.L: Quote, Profile, Research) said on Monday its output rose 26.4 percent in the first quarter of 2008 due mainly to acquisitions.
KMG E&P said in a statement oil production rose to 2.9 million tonnes, or 233,500 barrels per day.
"The increase is primarily due to the acquisition of a 50 percent stake in JV Kazgermunai LLP completed in April 2007 and a 50 percent stake in CITIC Canada Energy Limited from CITIC Group completed in December 2007," it said.
KMG E&P plans to produce 12.1 million tonnes of oil in the whole of 2008, a 13.7 percent increase.
Kazakh state oil and gas firm KazMunaiGas [KMG.UL] has a controlling stake in KMG E&P. (Writing by Olzhas Auyezov; editing by Rory Channing)
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