BAKU, Azerbaijan, January 30. Tengizchevroil, Tengiz oilfield operator, paid taxes totaling 3.8 trillion Kazakh tenge (around $8.25 billion) in 2022, Trend reports, citing Kazakh media.
The tax payments exceed the net profit of around $6 billion generated by the company during the previous year.
Tengizchevroil transferred 1.3 trillion Kazakh tenge ($2.82 billion) to the state budget as a corporate income tax.
Export customs duties amounted to 1.2 trillion Kazakh tenge ($2.6 billion).
Meanwhile, subsoil use royalties amounted to 1.14 trillion
Kazakh tenge ($2.47 billion).
Tengizchevroil’s individual income tax transfers to the state
budget amount to 33.5 billion Kazakh tenge ($72.7 million).
Tengizchevroil is a joint venture between Chevron, ExxonMobil, KazMunayGas, and LukArco. The joint venture was formed in April 1993, when the government of Kazakhstan granted exclusive 40-year rights to Tengizchevroil LLP to develop the Tengiz and Korolevskoye oil fields located in the north-eastern reaches of the Caspian Sea in Kazakhstan.