Press releases
Tengizchevroil Fact Sheet. Year-end 2023
History and Ownership
- 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.
- Current partners are Chevron, 50 percent; KazMunayGas, 20 percent; ExxonMobil Kazakhstan Ventures Inc., 25 percent; Lukoil, 5 percent.
Production and Reserves
- Estimated oil in place in the Tengiz field is 3.1 billion metric tonnes (25 billion barrels) with 200 million metric tonnes (1.6 billion barrels) in the Korolev field.
- Total recoverable crude oil in the Tengiz and Korolev fields is estimated to be 1.4 billion metric tonnes (11.5 billion barrels).
- The areal extent of the Tengiz reservoir is large, measuring 20 kilometers (12 miles) by 21 kilometers (13 miles).
- TCO completed its Sour Gas Injection and Second-Generation Plant (SGI/SGP) expansion project in 2008. Over the last few years average daily production capacity exceeded 80 thousand metric tonnes per day (640 thousand barrels) of crude oil and 25 million cubic meters per day (870 mmscf) of natural gas.
- Crude production in 2023 was 28.9 million metric tonnes (230.6 million barrels).
Health, Safety and the Environment
- TCO has invested about $3.2 billion since 2000 in environmental protection activities.
- Since 2000, total air emissions generated per ton of oil produced have decreased by 76 percent.
- TCO’s gas utilization rate in 2023 was 99.5 percent.
- TCO’s total water reuse rate at the end of 2023 was 45 percent. TCO continues water conservation efforts by treating domestic sewage and reusing it for production needs.
- TCO sends more than 35 types of waste for recycling. In 2023, TCO’s waste reuse/recycling rate was 43 percent.
Product Sales
- In 2023, TCO sold 1.3 million metric tonnes of LPG and over 2.7 million tonnes of sulfur.
- TCO produced and supplied to Kazakhstan’s gas pipeline network about 7.9 billion cubic meters of sales gas. TCO supplies almost all of its produced sales gas to the domestic market.
Benefits to Kazakhstan
- From 1993 through 2023, TCO made direct financial payments of over $190 billion to Kazakhstani entities, including Kazakhstani employees’ salaries, purchases of Kazakhstani goods and services, tariffs and fees paid to state-owned companies, profit distributions to the Kazakhstani shareholder and taxes and royalties paid to the government.
- In 2023, direct payments to the Republic of Kazakhstan totaled $13.9 billion.
- In 2023, Kazakhstani content spent was about $4 billion, including more than $2.4 billion for FGPWPMP (Future Growth Project - Wellhead Pressure Management Project).
- TCO has invested more than $47.6 billion on Kazakhstani goods and services since 1993.
Workforce Development
- Kazakhstani citizens hold 92 percent of positions in TCO’s Base Business and FGP-WPMP. Excluding the FGP-WPMP workforce, Kazakhstani citizens hold 94.8 percent of TCO positions compared to 50 percent in 1993.
- Kazakhstani managers and supervisors represent 79.5 percent of the TCO managerial workforce in Base Business and FGP-WPMP. Excluding the FGP-WPMP, Kazakhstani managers and supervisors hold 87.1 percent. Ongoing training and development programs exist to support the advancement of employees to positions of increasing responsibility.
Community Outreach
- In 2023, TCO budgeted $25 million for Egilik social infrastructure program, the majority of which was spent on construction of kindergartens, hospitals, schools and other social facilities in Atyrau Oblast.
- Since 1993, over $385 million has been invested in more than 120 social infrastructure projects to construct and improve social facilities such as schools, hospitals, recreational areas, kindergartens, and other common facilities in Atyrau region.
- In 2010-2023, TCO also supported 144 social projects within its Community Investments Program, focused on improving the wellbeing of communities in the areas of health, education, economic and civil society development in Atyrau and Mangystau oblasts.
- In 2023, TCO allocated $2.5 million as part of its Community Investments Program on 21 projects to help improve the quality of health, education and to develop civil society both in Atyrau Oblast and Borankul Village (Mangistau Oblast).
- In 2023, TCO also provided over $2.6 million as sponsorship and donation to Atyrau Oblast and Zhylyoi region.
- In 2023, as part of its new Zhylyoi district development program, TCO launched 2 new projects: STEAM Development, operated by Caravan of Knowledge and "Tandau" for small and medium business financing, operated by the Eurasia Fund of Central Asia (EFCA).
Future Growth Project - Wellhead Pressure Management Project
General Information
- In 2016, TCO Partners announced approval for the final investment decision of the Future Growth Project - Wellhead Pressure Management Project (FGP-WPMP), the next major expansion of the Tengiz oil field.
- FGP will expand production by approximately 12 million tonnes per year/260, 000 barrels per day to about 39 million tonnes per year or 850, 000 barrels per day.
- 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.
Kazakhstani Content
- Since the commencement of FGP-WPMP, TCO has spent over $18 billion to purchase Kazakhstani goods and services.
Project Progress
- The construction on the Wellhead Pressure Management Project (WPMP) is complete.
- TCO’s focus remains on safe and reliable commissioning and start-up.
- FGP-WPMP is a project of national importance and is helping to create a legacy of a trained and skilled local workforce, technology transfer through partnerships with international companies, and upgraded infrastructure in the region.