Tengiz Field

Oil production in the Republic of Kazakhstan rose by 2% from the April average, reaching 1.86 million barrels per day (bpd) between May 1 and May 19, according to Reuters. The Tengiz field alone contributed 932,000 bpd to this total. In April, Kazakhstan reduced its oil output by 3% month-on-month, …

KNDC, the leading drilling contractor in Kazakhstan, has launched a new state-of-art drilling training facility in the Tengiz field. The full-size DS5000 simulator features the very latest technology by Drilling Systems company. This technology realistically mirrors the environment of a land rig so that staff can fine-tune their skills in …

LUKOIL, Russia’s 2-nd largest oil company, will add another project in Kazakhstan to its portfolio, said Kurmangazy Iskaziyev, Deputy Chairman of the Management Board for Exploration, Production and Oilfield Services at Kazakhstan’s state company KazMunaiGas, Trend reports. Iskaziyev made the remarks at the 26th International Caspian Oil & Gas Conference in Baku, …

Chevron announced last week its capital and exploratory budget for 2019, which sees the first annual increase in spending since the 2014 oil price crash. While most of the investment is geared toward short-cycle projects that could start bringing in cash flows within two years, the U.S. supermajor continues to channel a significant portion …

Kazakhstan has received $132 billion over the years of development of the Tengiz oil and gas field located in Atyrau region, Kazinform correspondent cites the press service of TCO. “Since 1993 through September 2018, TCO’s direct financial payments to the Republic of Kazakhstan exceeded $132 billion. This includes salaries for …