Kazakhstan, ExxonMobil eye increasing production at Tengiz to 40M tons

The implementation of a joint project between the national company KazMunayGas (KMG) and the US-based ExxonMobil will make it possible to increase oil production at the Tengiz field in the Atyrau region to 40 million tons per year, Report informs referring to Kazakh media.

This issue was discussed during a meeting between KMG Chairman of the Board Magzum Mirzagaliyev and ExxonMobil Senior Vice President John Whelan.

“Current issues regarding the implementation of joint projects were discussed. In particular, construction is currently at the final stage as part of the future expansion project (wellhead pressure management project) at the Tengiz field, which should ensure an increase in oil production to 40 million tons per year,” reads a message from KMG.

The parties confirmed the importance of ensuring reliable oil exports through the CPC pipeline, and also noted the fruitful joint work on diversifying export routes, including in the Baku-Tbilisi-Ceyhan (BTC) direction.

They reviewed the issue of Kashagan development and emphasized the strategic need for timely implementation of further stages of the field’s development.

By the end of this year, the volume of Kazakh oil transported via BTC will be increased to 1.1 million tons.