Tengizchevroil achieves first oil production at Tengiz Future Growth Project

Moscow, January 24 - Neftegaz.RU. Tengizchevroil LLP (TCO) has reached a significant milestone at its Future Growth Project (FGP), by safely initiating production of crude oil at its new Third-Generation Plant (3GP) at the Tengiz oilfield.

This milestone marks the beginning of a gradual ramp-up of 3GP production over the coming months, which is expected to expand Tengiz's crude oil output by an additional 12 million tons per annum.
Once all Tengiz facilities are operating at full capacity, TCO’s total annual crude oil production is expected to reach approximately 40 million tons per annum, providing incremental value to Kazakhstan through taxes, royalties and other direct financial payments.
FGP will also help maintain reliable base business performance and strengthen Kazakhstan’s status as a major supplier to global energy markets.

K. Lyon, TCO General Director said:

• the successful delivery of the Future Growth Project is a major accomplishment in terms of scale and global complexity;
• FGP will unlock additional value for both Kazakhstan and TCO’s shareholders;
• we would like to express our sincere appreciation to the Government of the Republic of Kazakhstan, our shareholders, contractor companies, our talented and skilled workforce, and other stakeholders for their collaboration and support in helping us reach this milestone.

Through FGP project, TCO supported technology transfers through partnerships with international companies and helped upgrade infrastructure in the Atyrau region.

Konilkosh Suyessinov, TCO Deputy General Director said:

• Kazakhstani companies have proven their outstanding capabilities in executing large-scale projects;
• as part of FGP, Tengizchevroil has invested nearly $19.5 billion to purchase local goods and services and awarded over 1,250 contracts to Kazakhstani companies.

At peak construction, FGP created about 90,000 jobs and during the projects’ implementation, TCO has helped create a legacy of trained and skilled national personnel who underwent about 37,500 training courses.
They can now apply their experiences to other industrial projects within Kazakhstan and internationally.