The energy giant is spending nearly $50 billion to expand the Tengiz oil field, allowing it to pump one million barrels a day.

Chevron expects Kazakhstan's Tengiz oil field, one of the largest of its kind in the world, to produce 1 million barrels of oil equivalent per day.

Chevron (NYSE:CVX) said Friday it achieved first oil from newly built production and processing facilities at Kazakhstan's huge Tengiz oil field, completing a $48B expansion that will bring its production to ~1% of global crude supply.

Chevron Corporation (NYSE: CVX) announced today that its 50 percent owned affiliate Tengizchevroil LLP (TCO) has started oil production at its Future Growth Project (FGP) located at the Tengiz oil field in Kazakhstan.

Chevron said on Friday it had started production at a $48 billion expansion of the giant Tengiz oilfield which will bring its output to around 1% of global crude supply.

Operator Tengizchevroil reports another major milestone in commissioning $47.1 billion capacity upgrade project

Chevron said on Friday that it has started producing oil from an expansion at Kazakhstan’s Tengiz oilfield, which could help lift the project’s total output to 1 million barrels per day at full capacity.

The page may have been moved or deleted. You can try searching for it below, move on or ask for help. Upstream depends on being able to display ads on our services in order to finance our journalism.