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Tengiz oilfield operator in Kazakhstan pays record taxes for 2022

Kazakhstan Materials 30 January 2023 15:28 (UTC +04:00)
Tengiz oilfield operator in Kazakhstan pays record taxes for 2022
Emin Sevdimaliyev
Emin Sevdimaliyev
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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.

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