Chevron will upgrade the giant Tengiz field in Kazakhstan

Chevron Corporation announced in a statement that its 50 percent owned affiliate, Tengizchevroil, will proceed with the development of its Future Growth and Wellhead Pressure Management Project (FGP-WPMP), which will increase crude oil production at the Tengiz oil field in Kazakhstan by about 260,000 barrels per day.
FGP-WPMP is currently estimated to cost $36.8 billion, which includes $27.1 billion for facilities, $3.5 billion for wells and $6.2 billion for contingency and escalation.
The project will raise TCO’s total production to approximately 1 million barrels of oil equivalent per day. WPMP maximizes the value of existing TCO facilities by extending the production plateau and keeping existing plants producing at full capacity. FGP will use state-of-the-art sour gas injection technology, successfully developed and proven during TCO’s previous expansion in 2008, to enhance oil recovery. First oil is planned for 2022.
TCO operates the Tengiz Field, the world’s deepest operating super-giant oil field, with the top of the reservoir at about 3,650m below ground. The partnership also is developing the nearby Korolev Field. Net Chevron share daily production from these fields in 2015 averaged 257,000 barrels of crude oil, 348 million cubic feet of natural gas and 21,000 barrels of natural gas liquids. TCO joint venture participants, in addition to Chevron, are ExxonMobil (25 percent), KazMunayGas (20 percent) and LukArco (5 percent).