Tengizchevroil’s operation: outcome and outlook
Tengizchevroil, a US$20bn investment project designed to develop, produce and export oil and its products from the Tengiz Field, was formed in 1993. Today’s current partners’ are KazMunagiGas - 20%, ChevronTexaco Overseas Company - 50%, ExxonMobil Kazakhstan Ventures Inc. – 25% and LUKARCO B.V. – 5%.
TCO’s production during the year 2001 was 12.48 million metric tonnes of oil, averaging 270,000 barrels/day. This marked the eighth straight year TCO increased production and represents a 18% increase over the previous year.
In April 2001, a new monthly production record was achieved – 36,500 metric tonnes/day (290,000 barrels/day).
CPC providing a vital crude transportation link from Tengiz Field to the Black Sea port of Novorossiysk, from which the first loading took place October 2001, has allowed for TCO’s expansion to be well underway.
TCO’s staff of 3,200 worked over 17 million man-hours without a lost work-day incident through October 2001. This represented almost three years without a lost workday injury and is truly a world class achievement. TCO contractors also regularly achieve several million man-hour accident free periods and the contractor Lost Time Injury Frequency Rate shows impressive improvement, similar to what TCO employees have achieved.
TCO, a leader in the use of Kazakh supplier, is to aggressively increase this growth and maximize the value TCO captures from the procurement chain, through the recently established Total Supplier Management Department. The Second Generation Plant and Sour Gas Injection projects are two major players in this growth.
The Egilik (Kazakh for “Benefit”) Program was started in 1999 to carry on the community outreach programs of the completed US$50m Atyrau Bonus program. The Egilik Program provides funding assistance to community projects in the areas of health, education and social infrastructure. During the year 2001, US$6m was allocated to major projects in Atyrau and Zhylyoi Region where Tengiz field is located. For the year 2002, US$5m have been allocated to the Zhylyoi Region and US$3m to Atyrau.
Table of contents
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