ASTANA, Kazakhstan, May 16. Direct payments to Kazakhstan from the activities of Tengizchevroil (TCO) since 1993 have exceeded $203 billion.
Data obtained by Trend from the company’s latest report for the first quarter of 2025 indicates that this amount includes taxes, royalties, procurement of Kazakh goods and services, wages paid to Kazakh specialists, dividends to the state partner, and payments to state enterprises.
According to the information, from January through March 2025, crude oil production at Tengizchevroil’s fields reached 9.37 million tons, or 74.5 million barrels.
Meanwhile, in the first quarter of 2025 alone, the company transferred more than $1.7 billion into the Kazakh economy in the form of direct payments.
Since 1993, procurement from Kazakh suppliers has amounted to $50.9 billion.
According to the company, total proven oil reserves are:
3.1 billion tons (25 billion barrels) at the Tengiz field;
200 million tons (1.6 billion barrels) at the Korolevskoye field.
Moreover, Tengizchevroil noted that once all facilities at the Tengiz field are operating at full capacity, annual production will reach approximately 40 million tons, which will provide additional growth in payments to Kazakhstan’s budget.
Tengizchevroil (TCO) is Kazakhstan’s largest oil and gas company, developing the Tengiz and Korolev fields in the Atyrau region. The company was founded in 1993 as a joint venture between Kazakhstan’s state holding KazMunayGas (20 percent) and international partners, including Chevron (50 percent), ExxonMobil, Lukoil, and others.
