Kazakh Energy Minister Yerlan Akkenzhenov has commented on the fallout from the recent incident at the Tengiz oil field, saying losses currently stand at around 900,000 tons of oil.

Akkenzhenov noted that assessing the financial impact is a complex process, as the state applies a multi-layered calculation mechanism that includes royalties, taxes, and the government’s share through KazMunayGas, The Caspian Post reports via Kazakh media.

“Financial losses can be calculated in different ways. Once all repair work is completed and the full extent of the losses is determined, we will provide the final figures,” the minister said.

He noted that discussions have already taken place with the management of Chevron and Tengizchevroil (TCO), who have pledged to compensate for the production shortfall.

“As a result, we expect Kazakhstan to avoid losses on an annual basis,” Akkenzhenov added, expressing confidence that output levels will be restored.

A fire broke out at the Third Generation Plant (3GP) in the Zhylyoi District on the morning of January 18, prompting the evacuation of more than 450 workers. No major casualties were reported, and repair efforts are currently underway.

The incident has drawn close attention from authorities, given Tengiz’s strategic role in Kazakhstan’s energy sector and export revenues.