AKSAI, Western Kazakhstan oblast, 26 December 2002 -- Karachaganak Integrated Organisation (KIO) announced today that it has reached ahead of schedule the annual condensate delivery target of 5 million tonnes.

KIO operations director Mario Becherucci said, "The achievement of this milestone six days prior to year-end is a significant result. This has been made possible by strong commitment and teamwork across the organisation".

Last year's modernisation of the current main production facility at Unit 3 has allowed KIO to set new production records. The biggest daily condensate production record in 2002 was set in October with more than 18 thousand tonnes of condensate exported to Orenburg.

Today’s news is welcomed by the four partners who comprise the Karachaganak joint venture – Eni (32.5%), BG Group (32.5%), ChevronTexaco (20%) and LUKOIL (15%).