KMG EP Warns Strikes May Force Drop In 2011 Production
KazMunaiGas Exploration Production (KMG EP), the London-listed subsidiary of KMG, announced on 27 July that continuing strikes by oil workers at the Uzenmunaigas and Karazhanbasmunai facilities will result in a 6% year-on-year decrease in the company’s overall production target of 800,000 tons. KMG EP said in a statement: “To date, the accumulated oil production loss since the beginning of the protest amounts to 366,000 tons.” Karazhanbasmunai is a joint venture company equally owned by KMG EP and CNPC. KMG EP has already fired around 373 workers who went on strike to protest working conditions and poor wages since mid-May 2011. The remaining 748 employees in the Uzenmunaigas facility are persisting with their strike.
Copyright MEES 2011.
