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Chevron and partners go counter-cyclical with US$37 billion Tengiz expansion

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05 July 2016

Chevron and partners go counter-cyclical with US$37 billion Tengiz expansion

Report summary

On 5 July, Chevron and partners took FID on the next expansion phase at the supergiant Tengiz oil field (Kazakhstan). With capital costs of US$36.8 billion and incremental production capacity of 260,000 b/d, this is one of the largest global investment decisions of the past decade. It is also the most expensive project to be sanctioned in 2016 to date. Project economics are challenging but Tengiz remains a key asset in Chevron's portfolio. This FID underlines the strategic importance of this high-cost and complex expansion.

Table of contents

  • Chevron and partners go counter-cyclical with US$37 billion Tengiz expansion

Tables and charts

This report includes 1 images and tables including:

  • Tengizchevroil oil production (2010-33)

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    Chevron and partners go counter-cyclical with US$37 billion Tengiz expansion

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