TengizChevrOil will invest about $37 billion for the expansion of the Tengiz field. This is increase oil production by 12 million tons per year which amounts in total to 39 million tons per year. This information was shared at the briefing by company spokesmen. Hydrocarbons will be produced by the newest technology using sour gas injection. The share of Kazakhstan content in the construction and purchase of goods will be increased. According to investors, it is planned to receive the first oil in the modernized field in 4 years.

 

KANAT BOZUMBAYEV, KAZAKH MINISTER OF ENERGY

The project of future expansion is really the best gift to the country marking the Astana Day. The amount of investment totals nearly $37 billion. This figure includes the creation of more than 20 thousand new jobs and an increase in oil production by 12 million tons per year. This is an additional of billions of dollars of worth of income to our country and more jobs.

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