Oil production at Kazakhstan's Tengiz field, the country's largest oil field, has dropped by 28-30% to 61,000-63,000 tonnes per day due to ongoing maintenance, Reuters reported citing the Ministry of Energy. The ministry did not specify the exact timeframe for the decline.
The reduction in production is attributed to partial shutdowns at the Second-Generation Plant (SGP) for repairs on the E-401A waste heat boiler of the 400-unit. "Inspection of the equipment revealed localized through-corrosion damage," the Ministry of Energy explained. Repair work is expected to be completed by November 23, 2024.
Earlier, it was reported that from October 26 to November 12, production at Tengiz averaged 62,600 tonnes per day, down from 80,000 tonnes recorded from October 1 to 25. Despite the reduction, Tengizchevroil (TCO), the operator of the field, assured that production and exports through the Caspian Pipeline Consortium remain unaffected.
"TCO is performing preventive maintenance to ensure the safe and reliable operation of its facilities," the company said.
Before the maintenance-related drop, Tengiz achieved a record production rate of 87,783 tonnes per day (699,000 barrels per day) from October 1-7. This production surge posed challenges for Kazakhstan in meeting its OPEC+ production quota amid rising output levels.
Looking ahead, TCO is advancing its Future Growth Project (FGP), slated for completion in the first half of 2025. The initiative aims to boost annual production by 12mn tonnes (260,000 barrels per day), elevating total capacity to 39mn tonnes per year (850,000 barrels per day).
In the first nine months of 2024, Tengiz produced 21.4mn tonnes, a slight decrease from 21.7mn tonnes in the same period last year.
Tengizchevroil is owned by U.S.-based Chevron (50%), ExxonMobil (25%), Kazakhstan’s KazMunayGas (20%), and Russia’s Lukoil (5%).
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)