Two industry sources who are familiar with the calculations and data say that the daily output of Kazakhstan's biggest field, Tengiz has reached a new record high in late January. This is a 45% increase from the average for 2024.

The Kazakh Energy Ministry stated that Tengiz (operated by Chevron's Tengizchevroil) is expected to achieve production of 34.7 millions metric tons (or approximately 760,000 bpd), up 24.8% compared to 2024.

TCO had earlier announced that the planned maintenance at Tengiz was complete and that "a gradual ramp up of a third-generation (3GP) plant production" has been launched. Tengiz is expected to increase its crude oil production by 12 million tons a year.

Maintenance caused the oil output to be curtailed for nearly two months in late 2024, and up until mid-January 2025.

Sources claim that oil exports through the Caspian Pipeline Consortium system (CPC) will be increased due to the higher production on Tengiz. Tengiz oil is mainly supplied via CPC to exports.

The February CPC Blend oil load plan was initially set at 5.1 millions tons.

The main shareholder in TCO, Chevron, has declined to comment specifically on its production levels or operations, whether they are current or future.

On Monday, the Ministry of Energy of Kazakhstan failed to respond immediately to a comment request. CPC refused to comment on deliveries in February. Alexander Smith (Reporting and Editing)

(source: Reuters)