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Annual crude oil output down at Kazakhstan's Tengiz field

Oil&Gas Materials 23 February 2021 21:34
Annual crude oil output down at Kazakhstan's Tengiz field

BAKU, Azerbaijan, Feb. 23

By Nargiz Sadikhova - Trend:

Tengizchevroil’s crude production at Kazakhstan’s Tengiz field in 2020 was 26.46 million metric tons (211.13 million barrels) as compared to 29.79 million metric tons (237.7 million barrels) in 2019, Trend reports citing the company.

The Tengizchevroil (TCO) said that 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) as of the end of 2020, the company said.

In 2020, TCO sold over 1.4 million metric tons of LPG, 7.3 billion cubic meters of sales gas and over 2.5 million tons of sulfur.

In 1993, Tengizchevroil LLP was established on the basis of an agreement between Kazakhstan and Chevron. The company operates the Tengiz oil field in Kazakhstan.

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.

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