Chevron expands oil production in Kazakhstan
Chevron Corporation has announced that its 50-percent subsidiary, Tengizchevroil LLP, has begun oil production as part of its Future Growth Project at the Tengiz oil field in Kazakhstan. According to the company’s press release, the project is aimed at increasing crude oil production by 260,000 barrels per day at full capacity.
The Tengiz oil field, located in western Kazakhstan, is considered the world’s deepest supergiant oil field and the largest of the existing productive reservoirs with a single trap.
“This milestone completes a years-long project that has fully upgraded the gathering and processing facilities at one of the world’s largest oil fields, which will bring significant economic benefits to the Republic of Kazakhstan” said Clay Neff, President of Chevron International Exploration & Production.
Tengizchevroil LLP is a Kazakhstani partnership owned by Chevron (50%), KazMunayGas (20%), ExxonMobil (25%), and Lukoil (5%).
Chevron is one of the world’s leading integrated energy companies, believing that accessible, reliable, and increasingly clean energy is crucial to advancing human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemical products, and additives; and develops technologies that improve the industry. The company strives to reduce carbon emissions intensity in its operations and develop a low-carbon business in renewable fuels, carbon capture and offsetting, hydrogen, and other emerging technologies.
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