Chevron-led TengizChevroil (TCO), Kazakhstan’s biggest oil producer, estimates the cost of its expansion project at about $30 billion, Kazakh Economy Minister Yerbolat Dosayev told the parliament on Monday.
Kazakh officials said earlier this year TCO was working on reducing the cost from the original estimate of $38 billion. The project aims to boost production to 38 million tonnes a year by 2021 from the current level of about 27 million tonnes.
