Tengizchevroil Reduces Oil Production by 3.8% in 2024

Tengizchevroil LLP (TCO) produced 27.8 million tonnes of oil at the Tengiz group of fields in 2024, according to the company’s press service.

"Crude oil production totaled 27.8 million tonnes in 2024, around 220 million barrels," the press service said, The Caspian Post reports citing Interfax.

TCO produced 28.9 million tonnes of oil in 2023, meaning the figure decreased by 3.8% in 2024.

TCO sold over 1.2 million tonnes of liquefied gas and around 2.7 million tonnes of sulfur in 2024, with all produced dry gas supplied to the domestic market.

The Tengiz oil and gas field is located in the Atyrau Region and is one of the largest in Kazakhstan, with oil reserves of 3.1 billion tonnes.

Chevron (50%), ExxonMobil Kazakhstan Ventures Inc. (25%), Kazakhstan via KazMunayGas (20%), and Lukoil (5%) are the participants in Tengizchevroil LLP. Kazakhstan plans to begin negotiations with TCO on possibly increasing the country's share in the project, Kazakh Energy Minister Almasadam Satkaliyev recently said.