Overview

History and Ownership

Tengiz, the world’s deepest producing super giant oil field, was discovered in 1979.

Nazarbaev
RoK President Nursultan Nazarbayev and Chevron Corporation CEO Kenneth Derr at Joint Venture Agreement signing ceremony. Almaty, 1993

The Tengizchevroil partnership was formed on April 6, 1993, between the Republic of Kazakhstan and Chevron.

Our milestones


Current TCO Partners are:

Chevron


50% 

KazMunayGas


20% 

ExxonMobil Kazakhstan


25% 

LukArco


5% 

Oilfield

Tengiz is located on the 2.500 square kilometer (1.600 square mile) project license area which includes the super giant Tengiz field, and a smaller but sizable Korolev field and several exploratory prospects.


Total estimated oil reserves:

Tengiz field

 Korolev field

3.2 billion tonnes

(25.5 billion barrels)

200 million tonnes

(1.6 billion barrels)


Total recoverable crude oil in the Tengiz and Korolev fields is estimated to be 890 million to 1.37 billion metric tonnes (7.1 to 10.9 billion barrels).

Tengiz field is one of the world's deepest developed super giant oil fields, with the top of the reservoir at about 4.000 meters (13.000 feet). Tengiz reservoir is 19 kilometers (12 miles) wide by 21 kilometers (13 miles) long. The oil column measures an incredible one mile thick.

2019 1st Quarter key figures



Production and sales:

Crude (in tonnes)
7.6 million

LPG (in tonnes)
330 000

Dry gas (in m3)
2.4 billion

Sulfur (in tonnes)
660 000


Benefits to Republic of Kazakhstan:

Direct payments (in USD)


2.5 billion

 

Total payments since 1993 (in USD)


>137 billion

 

Direct financial payments include Kazakhstani employees’ salaries, purchases of Kazakhstani goods and services, tariffs and fees paid to state-owned companies, profit distributions to Kazakhstani shareholder and taxes and royalties paid to the government.

Kazakhstani goods and services spending:

2019 1Q spending (in USD)


>1 billion

 

Incl. FGP-WPMP spending of (in USD)


785 million

 

Total spending since 1993 (in USD)


>29 billion

 


Community outreach:

Egilik Program budget (in USD)
25 million

CIP* budget (in USD)
1 million

*CIP - Community Investment Program

Total social investments since 1993 (in USD)
1.7+ billion