Launch of Tengiz expansion project postponed until Q2 2025 - Kazakh Energy MinistryThe launch of the future expansion project of the Tengiz oil and gas field in Kazakhstan has been postponed until the second quarter of 2025, and the wellhead pressure management project (WPMP) has been postponed until the second quarter of 2024, the Kazakh Energy Ministry told Interfax."On December 15, 2023, Tengizchevroil LLP [the Tengiz field operator] sent an appeal to its partners for approval, requesting to postpone the launch of the WPMP facilities to the second quarter of 2024 from December 2023, and to postpone the future expansion project to the second quarter of 2025 from June 2024," the Energy Ministry said in response to an Interfax request.In October 2023, the head of the Ministry of Energy of Kazakhstan, Almasadam Satkaliyev, told reporters that the launch of the Tengiz Future Expansion and Wellhead Pressure Management Project (FGP-WPMP) had been postponed for six months.The Tengiz oil and gas field is one of the largest in Kazakhstan, with oil reserves amounting to 3.2 billion tonnes. The field is being developed by Tengizchevroil (TCO), which is implementing Future Growth Project (FGP) and Wellhead Pressure Management Project (WPMP) in Tengiz with a total cost of $46.7 billion (original cost was estimated at $45.2 billion). The project completion initially scheduled for the end of 2022, is now postponed until Q2 2025. The project will increase TCO annual production by 12 million tonnes.The current partners ofTengizchevroil LLP are Chevron (50% ), ExxonMobil Kazakhstan Ventures Inc (25%), Kazakhstan through KazMunayGas (20%), LUKOIL (5%). (ICE ALMATY)

Fonte notizia: INTERFAX