Tengizchevroil’s New Report Shows $203 Billion Paid to Kazakhstan Over 30 Years
Photo: Gov.kz
Tengizchevroil (TCO) has released new data on oil production and payments made to Kazakhstan in the first quarter of 2025, Orda.kz reports.
According to the company report, oil production at the Tengiz field increased by 25% in the first three months of the year, reaching 74.5 million barrels (or 9.37 million tons).
This jump in output was largely due to the launch of a third-generation processing plant, part of the field’s ongoing expansion project. TCO expects the expansion to add up to 12 million tons of oil to annual production.
"Once all facilities at Tengiz reach full operational capacity, TCO’s total output is projected to hit around 40 million tons per year, ensuring an increase in payments to the budget of the Republic of Kazakhstan due to taxes, royalties, and other direct contributions," the company noted.
In Q1 2025 alone, TCO contributed over $1.7 billion in direct payments to the Kazakh budget. Since the company began operations in 1993, total payments have surpassed $203 billion. This figure includes wages for local employees, purchases of goods and services from Kazakh companies, taxes, and dividends.
In the first quarter of 2025, TCO invested around $458 million to support local Kazakhstani companies, specialists, and suppliers.
Over the course of its operations in Kazakhstan, the company has invested an additional $3.5 billion in social projects in the Atyrau region.
This comes as Kazakhstan prepares to set a new national record for oil production, driven largely by the ongoing expansion at Tengiz.
Original Author: Nikita Drobny
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