Tengizchevroil Announced Adjustments to Work Due to The Stoppage of CPC Oil Shipments
Daily production of oil and gas condensate as of November 26 amounted to 214.5 thousand tons.
The Tengizchevroil (TCO) company “will adjust” production activities in connection with the stoppage of oil shipments from the sea terminal near Novorossiysk by the Caspian Pipeline Consortium (CPC) due to the storm.
“Tengizchevroil (TCO) is constantly monitoring the situation related to deteriorating weather in Novorossiysk and will adjust production activities in accordance with changing conditions to ensure safe operation,” the company’s press service said in a statement.
According to the Situational Analytical Center of the Fuel and Energy Complex of Kazakhstan, daily production of oil and gas condensate as of November 26 amounted to 214.5 thousand tons. A day earlier, this figure was at 253.1 thousand tons. As of November 24, production amounted to 257.4 thousand tons.
On Monday, CPC stopped oil shipments from the sea terminal near Novorossiysk due to the storm. The consortium warned that the company’s tank farms are almost full and, in this regard, oil is received from shippers at reduced rates.
The Tengizchevroil joint venture, which is owned by Chevron (50%), Exxon Mobil (25%), the Kazakh national company Kazmunaigas (20%) and the Russian enterprise Lukarko (5%), is developing the Tengiz field in the Atyrau region of Kazakhstan and is the largest oil producing enterprise in the country.
