Chevron has approved a major expansion at the Tengiz oil field in Kazakhstan that will increase oil production by about 260,000 B/D. Called the Future Growth and Wellhead Pressure Management Project, the expansion is estimated to cost USD 36.8 billion and will achieve first oil in 2022. The project will raise total production for Tengizchevroil (TCO), the field’s joint venture operating company, to about 1 million BOE/D. TCO’s partners are Chevron (50%), Exxon Mobil (25%), Kazakhstan Petroleum (20%), and Lukoil (5%).
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