Baku, Azerbaijan, Dec. 20
By Elena Kosolapova - Trend:
The largest oil producer in Kazakhstan Tengizchevroil (TCO) reduced oil production target for 2014 by almost one million metric ton, deputy minister of Kazakh national economy Madina Abylkasymova, Novosti-Kazakhstan reported.
"This is due to the planned overhaul, which took 37 days instead of the planned 27 days. As a result, Tengizchevroil revised oil production target for 2014 from 27.1 million metric tons to 26.2 million tons," Abylkasymova noted at a press briefing in the office of the Central Communications Service on Dec. 20.
Tengizchevroil decreased oil production by 2.4 percent in the first 11 months of 2014 compared with the same period of 2013, Abylkasymova noted.
Tengizchevroil produced 27.1 million metric tons in 2013 (a 8-percent increase compared to 2012).
The Tengizchevroil joint venture (TCO) was established by the Kazakh government and Chevron in April 1993 to develop Tengiz oil field.
Today, four companies, including "KazMunaiGas" national company (20 percent), "Chevron Overseas" (50 percent), "Exxon Mobil" (25 percent) and "LukArco" (five percent) are the partners.
The Kazakh Tengiz field is one of the largest oil fields in the world.
Edited by S.I.
Elena Kosolapova is Trend Agency's staff journalist, follow her on Twitter: @E_Kosolapova
