Tengiz is one of the largest and deepest oil fields in the world. Its oil reserves are estimated at 3.2 billion tonnes. Tengizchevroil, a joint Kazakh-U.S. venture, was formed to develop the oil field in the Atyrau region. The oil field produced 940 thousand tonnes of crude oil in 1993. In 2017, it produced 28.7 million tonnes. In 25 years of operation in Kazakhstan, Tengizchevroil has managed to introduce the most advanced processes and technologies. Tengizchevroil is the most active participant in Kazakhstan’s economy. From the moment of its establishment, the company has contributed over 126 billion dollars to the Kazakh economy.    

NURSULTAN NAZARBAYEV, PRESIDENT OF KAZAKHSTAN:

- Tengizchevroil pays taxes, dividends, purchases goods, services of Kazakhstan’s companies. Tengizchevroil provided opportunities to thousands of Kazakhstan’s companies in various industries – from machine-building to services, transport and construction. With our approval, the company pays special attention to the regional social projects. They allocated 1.4 billion dollars to finance them. They finance construction of health facilities, schools, water supply facilities, drainage systems, electric power networks and much more.

RAVIL CHERDABAYEV, FIRST DIRECTOR OF TENGIZCHEVROIL:

- In 25 years, the company has produced 375 million tons of oil. The annual output reached 28.7 million tons of oil in 2017. That is one third of the total oil production in Kazakhstan. Direct payments to the government of Kazakhstan made up 125 billion dollars. 24 billion dollars was allocated to promote Kazakh content; it means that the company purchased goods from local producers.  

Two years ago, Tengizchevroil’s management made a decision to finance the Future Growth Project and the Wellhead Pressure Management Project. They will result in increased production capacities.  

TED ETCHISON, GENERAL DIRECTOR, TENGIZCHEVROIL:

- Building on its successful past, we at TCO are well-positioned for continued success well into the future as we expand a Future growth, Wellhead pressure management project. The project is going to take TCO to the next stage of development and bring additional benefit for Kazakhstan by leaving a legacy of new technologies and a well-trained workforce. 

Tengizchevroil is one of the first companies that completely eliminated gas flaring by introducing a gas reinjection process. It was previously possible only on oil fields of the Gulf of Mexico. Its use in Tengiz oil field has opened new opportunities for the development of deep-seated deposits. 

NURSULTAN NAZARBAYEV, PRESIDENT OF KAZAKHSTAN:

- Presently, the company is implementing the third generation project aimed at expansion of production capacities. Today, TCO is among the world corporations producing over one billion barrels a day and Kazakhstan’s participation in it is huge. 

Today, Tengizchevroil is the largest and safest company in Kazakhstan. Global occupational safety standards, high indicators in environmental protection as well as sustainable production operations resulted in Tengizchevroil’s enduring success.

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