Tengiz to increase oil production by 12 mln tons a year

ASTANA. KAZINFORM «Oil production at Tengiz oilfield will increase by 12 mln tons a year,» Energy Minister Bolat Akchulakov told a briefing.

The Minister revealed that an expansion project is being developed there to let increase oil production by 12 mln tons a year. It is expected to complete the project in 2024.

He also added that Karachaganak filed launched the fourth gas reinjection compressor. The fifth compressor realization worth USD 1 bln kicked off and the final investment decision on the construction of the sixth compressor worth USD 735 mln was made.

Kashagan field started development of the associated gas processing project with a capacity of 1 bln cu m a year.

The Minister said in order to raise efficiency of the said projects the complex plan for the development of the largest oil and gas projects will be prepared with the foreign partners.

Photo: businesswire.com