Tengizchevroil aims to increase oil output 2.6% to 40 million tonnes in 2026Tengizchevroil, operator of the Tengiz and Korolyev field, plans to raise oil production to 40 million tonnes this year, up 2.6% from 2025, the Energy Ministry press service said."TCO produced 16.6 million tonnes in the first half of 2026 and is targeting up to 40 million tonnes for the full year," the ministry said after Energy Minister Yerlan Akkenzhenov visited the Atyrau region.Tengizchevroil pumped 39 million tonnes in 2025.Akkenzhenov discussed current output, company plans and operational reliability with Tengizchevroil management, the ministry said."We expect TCO to provide a clear plan through the end of the year with specific measures to achieve the stated production volumes," Akkenzhenov said.Daily output at Tengiz now stands at about 120,000 tonnes, according to the ministry.The field has been hit by several disruptions this year. A transformer fire on Jan. 18 forced a shutdown at Tengiz and the neighboring Korolyev field the following day due to power distribution problems. Korolyev resumed output on Jan. 26 and Tengiz on Jan. 31, though full recovery was not confirmed until March 11.The January incident slashed first-quarter production by nearly 40% year-on-year to 5.7 million tonnes.On May 28, TCO reported a minor operational disruption at one of the field's facilities. The Energy Ministry said the incident caused a temporary dip in output, with production returning to normal on June 11.Tengiz holds an estimated 3.1 billion tonnes of oil reserves. Tengizchevroil launched its wellhead pressure management project in April 2024 and began production under the future expansion project in January 2025, reaching full capacity by mid-June 2025. The combined cost of the expansion and pressure management projects is estimated at $46.7 billion.Tengizchevroil shareholders are Chevron Corp. with 50%, ExxonMobil Kazakhstan Ventures Inc. with 25%, Kazakhstan via KazMunayGas with 20%, and LUKOIL with 5%. (ICE ALMATY)

Fonte notizia: INTERFAX