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Chevron Corp.’s affiliate Tengizchevroil LLP (TCO) expects to enter front-end engineering and design (FEED) in 2012 for a trio of projects in an expansion project to increase total daily production from the Tengiz field by between 250,000 and 300,000 barrels at an estimated cost of $20 billion to $25 billion.
The Future Growth Project will utilize sour-gas injection technology used in existing operations. An early estimate of the total project cost is in the $6 - $8 billion range. The upcoming FEED work will refine the estimate range.
As part of its second project,TCO is also undertaking an ongoing drilling program. The third project has entered FEED on a wellhead pressure management project to support current operations.
An early estimate of the total cost for the trio of projects is in the $20 billion to $25 billion range.
Chevron has a 50% interest in Tengizchevroil. Other partners are KazMunaiGas, 20%, ExxonMobil Kazakhstan Ventures Inc., 25%, and LUKArco, 5%.