Baku, Azerbaijan, Sep. 6
By Elena Kosolapova - Trend:
Kazakhstan's Tengizchevroil (TCO) company produced 14.4 million tons of oil in 1H 2016, as compared to 15.07 million tons in the same period in 2015, said the company's website.
TCO operates on the license area in Kazakhstan which covers the super-giant Tengiz field and a smaller Korolev field.
The shareholders of TCO are KazMunaiGas national oil and gas company of Kazakhstan (20 percent), Chevron Overseas (50 percent), ExxonMobil (25 percent) and LukArco (5 percent).
The company sold 673,000 tons of liquefied gas and 3.67 billion cubic meters of dry gas, as well as 1.12 million tons of sulfur in 1H 2016.
This is while the TCO sold 677,000 tons of liquefied gas and 3.54 billion cubic meters of dry gas, as well as 1.57 million tons of sulfur in the same period in 2015.
The oil production by Tengizchevroil reached the record level of 27.16 million tons in 2015, as compared to 26.7 million tons in 2014.
In July 2016 the shareholders of the company agreed on financing of Wellhead Pressure Management Project and Future Growth Project, which will make it possible to increase oil production at Tengiz field by 12 million tons per year.
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