(Tengiz is Kazakh for "sea") is an oil and gas field
located in northwestern Kazakhstan
's low-lying wetlands along the northeast shores of the Caspian Sea
. It covers a project license area which also includes a smaller Korolev field
as well as several exploratory prospects.
Sizewise, Tengiz reservoir is wide and long Discovered in 1979, Tengiz oil field
is one of the largest discoveries in recent history. The city of Atyrau
, north of Tengiz, is the main transport hub of Tengiz oil. Many nations are involved in a large geopolitical
competition to secure access to this source of oil.
Tengiz is operated by Tengizchevroil
, a 40 year partnership planning to produce billions of barrels of oil from the field. The Tengizchevroil (TCO) consortium has developed the Tengiz field since its founding in April 1993. The partners in Tengizchevroil are Chevron
(25%), the Kazakhstan government through KazMunayGas
(20%) and Russian LukArco (5%)(LukArco was initially a joint venture between Lukoil and Arco, and subsequently BP upon its acquisition of Arco. BP sold its interest in LukArco to Lukoil in December 2009).
In 2001, the partners opened a US$2.7 billion, Caspian Pipeline Consortium
pipeline to export oil from Tengiz to the Black Sea
port of Novorossiysk
. The pipeline which was... Read More