ASTANA Jan 27 Output from Chevron-led
Tengizchevroil (TCO), Kazakhstan's largest oil producer, rose to
a record 27.1 million tonnes last year from 24.2 million in
2012, TCO General Director Tim Miller said on Monday.
The huge Tengiz onshore field in western Kazakhstan is one
of the three main drivers of Kazakhstan's conservative plan to
raise oil output to at least 100 million tonnes by 2020.
Output this year from the Central Asian nation, the
second-largest post-Soviet oil producer after Russia, is
forecast to rise to 83 million tonnes from 81.7 million in 2013.
"In 2013, TCO achieved record production of 27.1 million
tonnes," Miller told a meeting of Kazakhstan's Oil & Gas
Ministry. "Last year's TCO payments to Kazakhstan totalled just
under $15 billion. This, too, is a new record for TCO."
TCO makes payments to the government budget and to the
National Fund, which collects revenue from windfall oil exports.
TCO's future growth project for Tengiz, being implemented
now, will increase oil production at the field by about 12
million tonnes per year, Miller said, reiterating an earlier
He earlier had said the project would aim to start producing
more oil in 2018 to 2019.
Chevron holds 50 percent of TCO, while Exxon Mobil
owns 25 percent, Kazakh state oil company KazMunaiGas
20 percent and Lukarco, controlled by Lukoil, the
remaining 5 percent.
Besides Tengiz, Kazakhstan plans to boost crude output by
developing the Kashagan offshore field in the Caspian and by an
expansion of the Karachaganak oil and gas condensate field.
Output at Kashagan, the world's biggest oil find in decades,
was launched in September but halted in early October after
leaks were detected in a gas pipeline running from the deposit.
A consortium developing Kashagan expects to get the results
of pipeline tests next month and determine when output can be