Kazakhstan’s oil production broke a daily record of 278,400 metric tons right after Chevron-led company expanded its operations at the Tengiz oil field.
According to the national Fuel and Energy Complex’s Analytical Centre, the country has reached a historic record, with an increase of daily oil production by 10.5% in comparison with the last-year data.
Chevron Corporation announced on Monday that its 50 percent owned affiliate Tengizchevroil LLP (TCO) has started oil production at its Future Growth Project (FGP) that is the third processing plant in operation at the Tengiz oil field, which is expected to ramp up output to one million barrels of oil equivalent per day. This milestone follows the completion of the Wellhead Pressure Management Project (WPMP) in 2024, which is designed to optimize the field and processing plants.
The FGP expansion aims to increase crude oil production by 260,000 barrels per day at full capacity.
Once all Tengiz facilities are operating at full capacity total annual crude oil production is expected to reach approximately 40 million tons per annum, according to Tengizchevroil.
The Tengiz oil field, located in western Kazakhstan, ranks as the world’s deepest producing supergiant oil field and the largest single-trap producing reservoir in existence.
“This milestone concludes a multiyear project that completely revamped the gathering and processing capacity of one of the world’s largest oil fields that will provide significant economic benefit for the Republic of Kazakhstan,” said Clay Neff, president, Chevron International Exploration & Production. “This accomplishment was possible due to our strong partnership with Kazakhstan, our contractors, and the local workforce.”
The FGP and WPMP projects together installed power systems at Tengiz with five Frame 9 gas turbine generators, added four large compression trains with additional pumping capacity, installed a new centralized control center and enhanced sour gas handling and reinjection to the field for long-term pressure maintenance.
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Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most shipowners away. Six commodity vessels crossed the strait on Tuesday, down from nine the day before and below the 10-day daily average of 11.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
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