Tengizchevroil plans to extract 26.4 mln tons of oil in 2016

ASTANA. KAZINFORM - Tengizchevroil Company plans to extract 26.4 mln ton of oil in 2016.

"Tengizchevroil plans to extract 26.4 mln tons of oil this year. The project of future expansion of the company is also considered economically and socially important. The decision on financing of the project will be made in the nearest future," Minister of Energy of Kazakhstan Kanat Bozumbayev told at the meeting with people.

According to him, the Tengizchevroil expansion project will allow to increase the oil extraction from 27 million tons to 36 million tons and help to create about 20 thousand jobs for the project implementation period. The commissioning of the new facilities is preliminarily scheduled for 2022.