“Tengizchevroil” (TCO) paid $4.2 billion to the budget of Kazakhstan, including taxes and royalties, for six months of 2024. In addition, Kazakh contractors and employees of the company earned more than $ 1.7 billion, the company’s report.
In the first half of 2024:
– the volume of crude oil production at the field amounted to 14.4 million tons or 114.6 million barrels;
– TCO sold 669 thousand tons of liquefied natural gas and more than 1.4 million tons of sulfur;
– TCO has produced and supplied more than 575 mcm of dry gas to the gas pipeline network of Kazakhstan.
From 1993 to July 2024, TCO’s direct financial payments to Kazakhstan amounted to more than 196 billion dollars, including salaries to Kazakhstani employees, purchases of goods and services from domestic producers and suppliers, payments to state-owned enterprises, payments of dividends to a Kazakhstani partner, as well as in the form of taxes and royalties transferred to the state budget. At the same time, since 1993, TCO has purchased goods and services from Kazakhstani suppliers worth more than 49.2 billion dollars.
The “Tengiz” oil field was discovered in 1979 and is one of the largest and deepest oil fields in the world. “Tengizchevroil” LLP was formed on April 6, 1993 on the basis of an agreement between the Republic of Kazakhstan and Chevron.
Currently, TCO’s partners are: Chevron – 50%, JSC “KazMunayGas” – 20%, ExxonMobil Kazakhstan Ventures Inc. – 25%, and Lukoil – 5%.
The total proven reserves of the “Tengiz” and “Korolev” fields are 3.3 billion tons or 26.6 billion barrels. Recoverable oil reserves in the contract area amount to 1.4 billion tons or 11.5 billion barrels.
