BAKU, Azerbaijan, September 15. Tengizchevroil (TCO) remains focused on a safe, reliable start-up of the project to further increase production at the Tengiz field (Future Growth Project - Wellhead Pressure Management Project, FGP-WPMP), a source at the company told Trend.
The FGP will allow expanding production by approximately 12 million tons per year/260,000 barrels per day to about 39 million tons per year/850,000 barrels per day. The WPMP will keep the existing Tengiz plants full by lowering the flowing pressure at the wellhead and then boosting the pressure to the inlet requirements of the six existing processing trains.
As the company noted, completion of construction and installation work is projected for the current quarter.
"Recent commissioning progress has been slower than expected. TCO has provided planning scenarios to its shareholders that could result in a 3-month delay of WPMP and a 6-month delay of FGP," the company said.
According to the company, TCO is taking actions to mitigate schedule pressure.
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.
Estimated oil in place in the Tengiz field is 3.1 billion metric tons (25 billion barrels) and 200 million metric tons (1.6 billion barrels) in the Korolev field, where Tengizchevroil also produces. Total recoverable crude oil in the Tengiz and Korolev fields is estimated to be 1.4 billion metric tons (11.5 billion barrels).
According to the company, crude production of 1H 2023 was 14.9 million metric tons (118.9 million barrels). In 1H 2023, TCO sold over 634,000 metric tons of LPG, over 469 million cubic meters of sales gas and 1.4 million tons of sulfur.
In 1H2023, direct payments to the Republic of Kazakhstan from the company totaled $7.6 billion. In 1H2023, TCO spent about $2 billion, including $1.3 billion for FGP-WPMP (Future Growth Project - Wellhead Pressure Management Project). In the first half of 2023, Tengizchevroil purchased goods and services from Kazakhstani suppliers worth approximately $2 billion, including $1.3 billion under the FGP-WPMP, and in general, since 1993, goods and services from Kazakhstani suppliers have been purchased in the amount of more than $45.6 billion.