Tengizchevroil (TCO), a subsidiary of the US oil company Chevron, has started its production expansion project for the Tengiz oil field in Kazakhstan. The Wellhead Pressure Management Project (WPMP) and the Future Growth Project (FGP), scheduled for completion in 2025, will increase production at the field by about 45% to reach 40 Mt/year. The Tengiz oil field, Kazakhstan’s largest, currently has a production capacity of 580 kb/d (28 Mt/year). The expansion project should add 260 kb/d (12 Mt/year).
TCO (50% Chevron, 25% ExxonMobil, 20% KazMunaiGas, and 5% Lukoil through LukArco) is the largest oil producer in the country (29 Mt in 2022, i.e. 34% of total production). In addition to the Tengiz field, it also operates Korolevskoye field. At the national level, in 2022, Kazakhstan produced over 86 Mt of crude oil.