Tengizchevroil reports 25% rise in oil production in Q1In the first quarter of 2025, Tengizchevroil LLP (TCO), the operator responsible for developing the Tengiz and Korolevskoye fields in western Kazakhstan, reported the production of 9.37 million tonnes of oil, according to the company’s press service.This marks a 25% increase compared to the same period in 2024, during which the company produced 7.5 million tonnes of oil.In January-March 2025, the company sold 309,000 tonnes of liquefied gas, reflecting an 8.5% decrease year over year, and more than 547,000 tonnes of sulfur, which represents a 27% fall.In the reporting period, the volume of TCO’s dry gas supplied to Kazakhstan's gas pipeline network soared 350% year over year to reach 1.5 billion cubic meters.Tengizchevroil’s direct payments to the government of Kazakhstan in the 1st quarter of this year totaled over $1.7 billion.Tengizchevroil JV (TCO) develops the Tengiz and Korolyov oil and gas fields in Atyrau region (west Kazakhstan). The Tengiz field was discovered in 1979 and now is one of the world’s deepest producing super giant fields. Estimated oil in place in the Tengiz field is 3.1 billion metric tonnes.The joint venture is currently owned by American ChevronTexaco Overseas (50%), ExxonMobil Kazakhstan Ventures Inc. (25%), Kazakhstan through the national company KazMunayGas (20%) and Russian-American JV LUKArco (5%). The company has been operating in Kazakhstan since 1993.In late April 2024, Tengizchevroil put into operation facilities that were built in accordance with the company’s Wellhead Pressure Management Project (WPMP) in the Tengiz field. The company is also carrying out a Future Growth Project (FGP) which is expected to be completed by the end of the 2nd quarter of 2025. The total cost of the two projects is $46.7 billion. (ICE ALMATY)

Fonte notizia: INTERFAX