Oil output restored at Chevron-operated oilfield in Kazakhstan

A recent report has confirmed that Kazakhstan has recovered from earlier oil production losses and restored output levels to 290,000 metric TPD (tons per day).

The announcement was issued by the Central Asian nation’s minister for energy, Erlan Akkenzhenov.

In late May, oil major and owner of the Texaco lubricant brand, Chevron, reported minor operational disruption had occurred at the Kazakhstan oilfield Tengiz, where it holds lead operator status. Later, via its Tengizchevroil (TCO) venture, it said that oil production was close to returning to normal operating rates.

TCO is a joint-venture partnership helmed by Chevron. The consortium consists of several stakeholders including Chevron Overseas (50 per cent), Exxon Mobil (25 per cent), KazMunayGas (20 per cent) and LukArco (5 per cent), the latter of which is one of the Russian oil enterprise Lukoil’s subsidiaries.

According to industry sources, oil production at the major oilfield in Kazakhstan has risen from 310,000 barrels per day to reach 900,000 barrels per day. However, further details stated that overall, the country’s ⁠average total gas condensate and oil production levels have dropped from 2.16 million barrels per day back in April to 2.1 million barrels per day in May.

The recent recovery follows earlier issues at the Chevron-led Tengiz field, ⁠based near the Caspian Sea in Kazakhstan’s far northwest. A halt to output in January occurred after a problem caused by power distribution, which was only restored in April.

The Tengiz oilfield was first discovered in 1979. It has estimated recoverable reserves of around six billion to nine billion barrels.

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