Baku, Azerbaijan, Nov.21
By Leman Zeynalova – Trend:
The current gas utilization rate of Kazakhstan’s Tengizchevroil (TCO) is over 98 percent, TCO said in its report on the 3Q 2018 results.
TCO said it has invested $3 billion since the year 2000 on projects to minimize environmental impact.
"Investments in equipment reliability have reduced the number of technical malfunctions at the plants and the volume of unplanned sour and acid gas flaring during technological unavoidable gas flaring by 99 percent from 2000 to 3Q 2018," said the report.
The company said total air emissions generated per ton of oil produced have been reduced by 73 percent since 2000, even as annual crude oil production has grown by 2.7 times as a result of TCO’s investments in capital programs and equipment reliability.
Estimated oil in place in the Tengiz field is 3.2 billion metric tons (25.5 billion barrels) with 200 million metric tons (1.6 billion barrels) in the Korolev field.
Total recoverable crude oil in the Tengiz and Korolev fields is estimated to be 890 million to 1.37 billion metric tons (7.1 to 10.9 billion barrels).
The areal extent of the Tengiz reservoir is large, measuring 20 kilometers (12 miles) by 21 kilometers (13 miles).
TCO completed its Sour Gas Injection and Second-Generation Plant (SGI/SGP) expansion project in 2008, which brought daily production capacity to approximately 75,000 metric tonnes per day (600,000 barrels) of crude oil and 22 million cubic meters per day (750 mscf) of natural gas.
Crude production for the first three quarters of 2018 was 21.5 million metric tonnes (171.3 million barrels).
Tengizchevroil is situated in a license area of 2,500 square kilometers or 1,600 square miles, which includes the super-giant Tengiz field and the smaller but large in reserves Korolevskoye field, as well as several areas promising for exploration.
The recoverable oil reserves of Tengiz and Korolevskoye range between 890 million and 1.37 billion tons.
Tengiz, the world’s deepest producing super giant oil field, was discovered in 1979. The Tengizchevroil (TCO) partnership was formed on April 6, 1993, between the Republic of Kazakhstan and Chevron.
Current partners are Chevron, 50 percent; KazMunayGas, 20 percent; ExxonMobil Kazakhstan Ventures Inc., 25 percent; LukArco B.V., 5 percent.
Follow the author on Twitter: @Lyaman_Zeyn