Press releases
Tengizchevroil LLP celebrates 25th anniversary
ATYRAU, Kazakhstan, April 6, 2018 – Today, as part of celebrating Tengizchevroil LLP’s (TCO) 25th anniversary of the formation of the company, an Official Ceremony and reception was held in TCO Headquarters for representatives of the Government of the Kazakhstan, TCO Partners, TCO employees and Atyrau oblast communities. The Akim of Atyrau Oblast, Mr. Nogayev, First Vice-Minister of Energy of the RoK Mr. Dosmukhambetov and other officials participated in the event.
“Over the last 25 years, due to the support of the Government of Kazakhstan and our Partners, along with the efforts of many thousands of TCO employees, the company has achieved tremendous milestones in safe and reliable production, contribution to Kazakhstan’s economy and improvement in the social well-being of the residents of Atyrau Oblast. It can be said that TCO has grown and prospered together with the Republic of Kazakhstan and its people” - said Ted Etchison, TCO General Director during his speech.
Since its formation, TCO has set a goal to invest in human capital, financial and technical resources to create the world-class enterprise that it is today.
“Tengizchevroil is the most successful long-term project in our country. The project has attracted foreign investments that have had a multiplier effect to facilitate the growth of businesses along with improving the social wellbeing of the local communities” – said Akim of Atyrau oblast Nurlan Nogayev.
Over the past 25 years, TCO has significantly increased production volumes, while continuing to improve its safety and environmental performance. Up to now, TCO has produced almost 392 million tonnes of crude oil and 122 billion m3 of gas. Production has grown from 1 million tonnes per year in 1993 to 28.7 million tonnes in 2017 which represents approximately one third of all oil
produced in Kazakhstan. Total air emissions per tonne of oil have been reduced by 70 percent since 2000.
Over the 25 years, TCO’s total direct financial payments to Kazakhstan have exceeded $125 billion. Indeed, TCO is the largest tax payer in Kazakhstan today.
“Since 1993, TCO’s investments of more than $24 billion in Kazakhstani goods and services has had a tremendous impact on the development of a sustainable supplier base, while contributing to the economic progress of Atyrau Oblast and Kazakhstan as a whole. In addition, TCO has also invested over $1.4 billion to fund social projects and programs in the Atyrau Oblast for the community and employees. – said Murat Mukashev, TCO Deputy General Director.
Ted Etchison concluded – “As we celebrate this momentous anniversary, we also look forward to a bright future for the citizens of Kazakhstan as we are implementing a large-scale expansion project called Future Growth Project, which will leave a lasting legacy for decades to come.”
TCO is holding 25th anniversary celebration events in Astana, Atyrau, Kulsary and at Tengiz field.
Tengizchevroil LLP is a Kazakhstani partnership that explores, develops, produces and markets crude oil, LPG, dry gas and sulfur. TCO conducts its operations in accordance with world-class safety and environmental standards. In April 1993, Tengizchevroil was formed between the Republic of Kazakhstan and Chevron Corporation. Current partners are: Chevron, 50 percent; KazMunaiGas NC JSC, 20 percent; ExxonMobil Kazakhstan Ventures Inc., 25 percent and LukArco, 5 percent.
The Future Growth Project-Wellhead Pressure Management Project (FGP-WPMP) are two integrated projects implemented by TCO simultaneously. FGP-WPMP implementation will allow to increase Tengiz crude oil production capacity by approximately 12 million tonnes per year or 260,000 barrels per day and the overall Tengiz crude oil production capacity will be approximately 39 million tonnes per year or 850,000 barrels per day. While FGP implementation will expand production, WPMP will keep the existing Tengiz plants at full capacity by lowering wellhead pressure and boosting the pressure of the six existing processing trains.