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Chevron “Future Growth” Project in Kazakhstan

Chevron is already the first oil producer in Kazakhstan with interest in the two largest local oil fields, Tengiz and Karachaganak. With the Future Growth Project, Chevron and its affiliate, TengizChevrOil (TCO) intend to expand the Tengiz field in Kazakhstan from 250 000 b/d to 300 000 b/d. At this early stage, the total cost is estimated around 25 – 30 BUSD but the FEED to be awarded in 2012 should help to adjust this amount.

This project comprises three phases: an on-going drilling program, to be supported by the FEED of the wellhead pressure management program, then sour gas injection. Just this last phase is cost estimated around 6 – 8 BUSD.

TengizChevrOil (TCO) is owned by Chevron 50%, ExxonMobil 25%, KazMunaiGas (KMG) 20%, LUKArco 5%.

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