Kazakhstan reveals output volume at Tengiz oil field
Baku, Azerbaijan, May 11
By Ali Mustafayev – Trend:
Tengizchevroil (TCO) LLP has produced 7.4 million tons or 59.3 million barrels of crude oil for the past January-March 2018 at Kazakhstan’s Tengiz oil field, Kazinform reported, citing TCO.
TCO sold about 340,000 tons of condensed gas, 2.34 billion cubic meters of dry gas and 630,000 tons of sulphur in the first quarter of 2018, said TCO.
The Tengizchevroil partnership was formed on April 6, 1993, between Kazakhstan and Chevron. Chevron Corporation became the first foreign company which signed agreement with Kazakh President Nursultan Nazarbayev. For 25 years, production at Tengiz has grown from 4 up to 28 million tons per year.
The shareholders of Tengizchevroil are KazMunaiGas national oil and gas company of Kazakhstan (20 percent), Chevron Overseas (50 percent), ExxonMobil (25 percent) and LukArco (5 percent).
Follow the author on Twitter: @Ali_Mustafayev