Baku, Azerbaijan, Sept.27
By Leman Zeynalova – Trend:
Kazakhstan's Tengizchevroil (TCO) company produced 14.59 million tons of oil (116 million barrels) in the first half of 2017, as compared to 14.4 million tons in the same period in 2016, a source in the company told Trend.
TCO operates on the license area in Kazakhstan which covers the super-giant Tengiz field and a smaller Korolev field.
Since 2000, the total volume of air emissions into the atmosphere per ton of oil output at the field has decreased by 70 percent, while TCO has increased the annual oil production by 2.5 times as a result of investing in the reliability of equipment, said the company.
TCO has sold 710,000 tons of liquefied gas, 3.73 billion cubic meters of natural gas, as well as 1.27 million tons of sulfur, according to the source.
Tengiz field, which was opened in 1979, is one of the largest and deepest oil fields in the world.
The total volume of explored reserves of the Tengiz collector is 3.2 billion tons (25.5 billion barrels) and 200 million tons (1.6 billion barrels) in the Korolev field. The recoverable oil reserves of the Tengiz and Korolev fields range from 890 million to 1.37 billion tons (7.1-10.9 billion barrels).
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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