BAKU, Azerbaijan, Nov. 11
By Nargiz Sadikhova - Trend:
Crude production at Kazakhstan’s Tengiz oil field in 3Q2020 was 20.16 million metric tons (159.08 million barrels), Trend reports citing Tengizchevroil which operates the field.
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).
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 tons per day (600,000 barrels) of crude oil and 22 million cubic meters per day of natural gas.
In 3Q2020, TCO sold over 1,355 thousand metric tons of LPG, 5.6 billion cubic meters of dry gas, and over 1,8 million tons of sulfur. In 3Q2020, direct payments to the Republic of Kazakhstan totaled $5.3 billion.
In 3Q2020, TCO spent $2.8 billion on Kazakhstani goods and services, including $1.9 billion for Future Growth Project - Wellhead Pressure Management Project (FGP-WPMP).
The Tengiz oil field was discovered in 1979 and is one of the biggest and deepest oil fields in the world. The total explored reserves of Tengiz reach 3.2 billion tons, while recoverable reserves range from 890 million tons to 1.37 billion tons.
In 1993, Tengizchevroil LLP, which is the project operator, was established based on an agreement between Kazakhstan and Chevron. Presently, Tengizchevroil includes Chevron (50 percent), ExxonMobil Kazakhstan Ventures Inc. (25 percent), KazMunayGas (20 percent), and LukArco (5 percent).
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