Highlights of Operations
As Kazakhstan's largest private oil producer, Chevron holds important stakes in the nation's two biggest producing oil projects — Tengiz and Karachaganak. Both fields were discovered in 1979.
Chevron became the first major Western oil firm to gain a presence in Kazakhstan with the formation of Tengizchevroil in 1993. Known as TCO, the partnership also is developing the nearby Korolev Field. Chevron holds a 50 percent interest in TCO.
The Tengiz is the world's deepest operating super-giant oil field, with the top of the reservoir at about 12,000 feet deep (3,657 m).
TCO is undergoing a significant expansion composed of two integrated projects referred to as the Sour Gas Injection (SGI) and Second Generation Plant (SGP). At a total combined cost of approximately $7.2 billion, these projects are designed to increase TCO's crude oil production capacity from approximately 300,000 barrels per day to approximately 540,000 barrels per day. The SGI portion of the project started up in 2007. Full facilities are expected to start up in the second half of 2008.
In 1997, Chevron legacy company Texaco acquired a 20 percent stake in Karachaganak, Kazakhstan's second-largest producing petroleum reserve.
In 2001, Chevron — in conjunction with 10 companies and government partners – opened the 935-mile (1,505-km) Caspian Pipeline Consortium (CPC) pipeline from Tengiz to the Black Sea port of Novorossiysk. Chevron is the largest private shareholder in the CPC. A separate 24-inch, 400-mile (644-km) pipeline that links the Karachaganak Field to the CPC system at Atyrau began operations in 2003. The pipelines provide a critical export route for crude oil from Tengiz and Karachaganak.
Another Chevron initiative is the polyethylene pipe plant in Atyrau. The plant is the first such facility in Kazakhstan.
Chevron has been a strong supporter of programs that enhance human development and social infrastructure in Kazakhstan. The company's efforts were recognized when it received the Best Social Partner 2005 award bestowed by the city administration of Almaty. Chevron was the only foreign company honored at the awards ceremony.
Updated: March 2008