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Tengizchevroil announces financial indicators

Oil&Gas Materials 9 September 2011 11:12
Direct payments of LLP Tengizchevroil (TCO) hit $52.4 billion from 1993 to June 2011, the company said.

Kazakhstan, Astana, Sept.9 / Trend, A. Maratov /

Direct payments of LLP Tengizchevroil (TCO) hit $52.4 billion from 1993 to June 2011, the company said.

"During the first half of 2011 direct payments to Kazakhstan amounted to $7 billion. In 2010, direct payments to the government amounted to $9.6 billion," LLP said.

According to the company, during the first half of 2011, TCO purchased goods and services of the Kazakh suppliers worth $746 million. During the period from 1995 to the first half of 2011, TCO purchased goods and services of the Kazakh suppliers worth $10.346 billion.
Tengiz field in western Kazakhstan was opened in 1979. It is one of the deepest and largest oil fields in the world

In April 1993, Tengizchevroil was created after the Kazakh government and Chevron signed the agreemeent. At present, its partners are: Chevron - 50 percent, KMG - 20 percent, ExxonMobil - 25 percent and LukArko - 5 percent.

Recoverable oil reserves in Tengiz field collector by April 2033 hits from 750 million to 1.1 billion tons (6-9 billion barrels). Total proven reserves of Tengiz field are 3 billion tons (26 billion barrels), and 190 million tons (1.5 billion barrels) at the Korolevski Field. The collector is 19 km (12 miles) in width and 21 km (13 miles) long.

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