Kazakhstan’s Tengiz field expansion costs rising

摘要

The cost of raising crude output at Kazakhstan’s huge Tengiz field could double previous estimates. Higher costs for Tengiz’s future growth project are detailed in a revised plan presented to the government by the Chevron-led Tengizchevroil (TCO) consortium, energy minister Vladimir Shkolnik says. “It was originally expected to cost $23bn, but now - due to certain circumstances - our partners have presented to us a sum that is much bigger, around $40bn,” Shkolnik says. Chevron is field operator at Tengiz.