Ersonnel Hired In Tengiz Reached 11 Thousand

Kazakhstan's Tengizchevroil Increased Oil Production By 1.3% In H1

The number of personnel employed at Tengiz oil-&-gas field in future growth and wellhead pressure management projects, Atyrau region, has reached 11 thousand, Kazinform reports.

“The number of the personnel hired for implementation of the recently launched project in Tengiz has exceeded 11 thousand. Among them 6 600 are the residents of Atyrau region”, Nurtas Kenganov, HSE  Deputy General Manager of Tengizchevroil told in the meeting with journalists.

As earlier reported, at the peak phase of project implementation there will be 20 thousand people working. The work locations are mainly construction sites in Atyrau region and Tengiz field. A few thousand jobs will also be opened in Mangystau region, hundreds of specialists will be also hired in other regions of Kazakhstan, such as Pavlodar, East-Kazakhstan, Almaty and West-Kazakhstan, where contracts have already been signed with companies. These companies are to fabricate 53 thousand tons of pre-assembled units for the third generation plant. After completion of construction the volumes of Tengiz oil production will grow from the current 26 million tons per year to 38 million tons per year.

Chevron (CVX), partners approved $37 Billion Tengiz expansion project in Kazakhstan, IBT Media reported in May this year.

Tengizchevroil (TCO), the joint venture that owns and operates the Tengiz field, is 50 percent-owned by Chevron. Another 25 percent is owned by ExxonMobil Corp., headquartered in Irving, Texas; Kazakhstan’s state-owned energy company KazMunayGas owns 20 percent; and the remaining 5 percent is owned by a subsidiary of Russia’s Lukoil.

Of the total estimated expansion cost, $27.1 billion will be spent on facilities, $3.5 billion is earmarked for wells and about twice that amount, $6.2 billion would go toward contingency and escalation measures, according to Chevron’s statement.

The announced investment is the biggest in the oil industry since crude prices began falling mid-2014. Since 1993, the Tengiz oil field has generated about $70 billion in revenue and $40 billion in profits for Chevron, according to analyst estimates cited in the Wall Street Journal.

Chevron also has stakes in the Karachaganak oil field in Kazakhstan and the 935-mile pipeline to carry crude oil from the Tengiz field to the Russian city of Novorossiysk on the Black Sea coast.