Chevron Corporation announced that its 50% owned affiliate, Tengizchevroil (TCO), will proceed with the development of its Future Growth and Wellhead Pressure Management Project (FGP-WPMP), which will increase crude oil production at the Tengiz oil field in Kazakhstan by about 260,000 barrels per day. FGP-WPMP is currently estimated to cost $36.8 billion, which includes $27.1 billion for facilities, $3.5 billion for wells and $6.2 billion for contingency and escalation.
The project will raise TCO’s total production to approximately 1 million barrels of oil equivalent per day. WPMP maximizes the value of existing TCO facilities by extending the production plateau and keeping existing plants producing at full capacity. FGP will use state-of-the-art sour gas injection technology, successfully developed and proven during TCO’s previous expansion in 2008, to enhance oil recovery. First oil is planned for 2022.
|A) Location map for Tengiz field in western Kazakhstan; C) Seismic depth map highlighting structure of isolated platform. Bachtel et al. 2012. Click to enlarge.|
TCO operates the Tengiz Field, the world’s deepest operating super-giant oil field, with the top of the reservoir at about 12,000 feet (3,657 m) below ground. The Tengiz reservoir is 19 kilometers (12 miles) wide by 21 kilometers (13 miles) long. The oil column measures an incredible one mile thick. The partnership also is developing the nearby Korolev Field.
Net Chevron share daily production from these fields in 2015 averaged 257,000 barrels of crude oil, 348 million cubic feet of natural gas and 21,000 barrels of natural gas liquids.
TCO joint venture participants, in addition to Chevron, are ExxonMobil (25%), KazMunayGas (20%) and LukArco (5%).
Chevron is Kazakhstan’s largest private oil producer, holding important stakes in the nation’s two biggest oil-producing projects: the Tengiz and Karachaganak fields. Chevron is also the largest private shareholder in the Caspian Pipeline Consortium, which operates a 935-mile (1,505-km) crude oil export pipeline from the Tengiz Field in Kazakhstan to tanker-loading facilities at Novorossiysk on the Russian coast of the Black Sea. The pipeline provides the key export route for crude oil from TCO and Karachaganak.
Steven L. Bachtel, Henry Posamentier, Ted E. Playton, Steve Jenkins, Elrad Iskakov, Zhanibek Katrenov and Paul (Mitch) Harris (2012) “Seismic Geomorphology of Microbial-Dominated Margin and Slope Environments around an Isolated Platform, Tengiz Field, Kazakhstan” AAPG Hedberg Conference “Microbial Carbonate Reservoir Characterization”