Tengizchevroil In Kazakhstan Reveals Oil Production Volume In 1Q2024

2024-05-14 10:50:18

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, May 13. crude oilproduction by Tengizchevroil LLP (TCO, a joint venture betweenKazakhstan and Chevron) amounted to 7.5 million tons (59.8 millionbarrels) from January through March 2024, Trend reports.

According to the TCO, compared to the first quarter of 2023(7.35 million tons), production volume increased.

At the same time, in the first quarter of 2024, TCO sold 333,000tons of liquefied gas and more than 748,000 tons of sulfur.

In addition, in the first quarter of 2024, TCO produced andsupplied more than 333 million cubic meters of dry gas to theKazakhstan gas pipeline network. TCO supplies nearly all of itsproduced dry gas to the domestic market.

Tengizchevroil, a joint venture between Kazakhstan and Chevron,manages the Tengiz field in the meantime. In 1979, scientistsdiscovered Tengiz, the world's deepest-producing super-giant oilfield. Kazakhstan and Chevron formed the Tengizchevroil (TCO)partnership on April 6, 1993.

The estimated amount of oil in place in the Tengiz field is 3.1billion metric tons (25 billion barrels), and 200 million metrictons (1.6 billion barrels) in the Korolev field, whereTengizchevroil also produces. Estimates place the total recoverablecrude oil in the Tengiz and Korolev fields at 1.4 billion metrictons (11.5 billion barrels).

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