In July 2016, TCO Partners announced approval for the final investment decision of the Future Growth Project-Wellhead Pressure Management Project (FGP-WPMP), the next major expansion of the Tengiz oil field.
As part of FGP-WPMP project plans it is important for us to keep transparent two-way communication with our lenders. TCO is implementing a lender relations process to ensure that stakeholders will have ongoing opportunities to ask questions, comment and provide feedback.
Our focus is to keep an open dialogue with our lender base and timely respond on questions. In addition to the information found under the Company tab, we are happy to assist you with quick and reliable responses.
Tengizchevroil LLP (TCO) has reached a significant milestone at its Future Growth Project (FGP), by safely initiating production of crude oil at its new Third-Generation Plant (3GP) at the Tengiz oilfield.
This milestone marks the beginning of a gradual ramp-up of 3GP production over the coming months, which is expected to expand Tengiz's crude oil output by an additional 12 million tons per annum. Once all Tengiz facilities are operating at full capacity, TCO’s total annual crude oil production is expected to reach approximately 40 million tons per annum, providing incremental value to Kazakhstan through taxes, royalties and other direct financial payments. FGP will also help maintain reliable base business performance and strengthen Kazakhstan’s status as a major supplier to global energy markets.
“The successful delivery of the Future Growth Project is a major accomplishment in terms of scale and global complexity. FGP will unlock additional value for both Kazakhstan and TCO’s shareholders,” said Kevin Lyon, TCO General Director. “We would like to express our sincere appreciation to the Government of the Republic of Kazakhstan, our shareholders, contractor companies, our talented and skilled workforce, and other stakeholders for their collaboration and support in helping us reach this milestone.” Kevin Lyon added.
Through FGP project, TCO supported technology transfers through partnerships with international companies and helped upgrade infrastructure in the Atyrau region.
“Kazakhstani companies have proven their outstanding capabilities in executing large-scale projects”, said Konilkosh Suyessinov, TCO Deputy General Director. “As part of FGP, Tengizchevroil has invested nearly $19.5 billion to purchase local goods and services and awarded over 1,250 contracts to Kazakhstani companies,” Suyessinov added.
At peak construction, FGP created about 90,000 jobs and during the projects’ implementation, TCO has helped create a legacy of trained and skilled national personnel who underwent about 37,500 training courses. They can now apply their experiences to other industrial projects within Kazakhstan and internationally.
Tengizchevroil LLP (TCO) has reached a significant milestone at its Future Growth Project (FGP), by safely initiating production of crude oil at its new Third-Generation Plant (3GP) at the Tengiz oilfield.
This milestone marks the beginning of a gradual ramp-up of 3GP production over the coming months, which is expected to expand Tengiz's crude oil output by an additional 12 million tons per annum. Once all Tengiz facilities are operating at full capacity, TCO’s total annual crude oil production is expected to reach approximately 40 million tons per annum, providing incremental value to Kazakhstan through taxes, royalties and other direct financial payments. FGP will also help maintain reliable base business performance and strengthen Kazakhstan’s status as a major supplier to global energy markets.
“The successful delivery of the Future Growth Project is a major accomplishment in terms of scale and global complexity. FGP will unlock additional value for both Kazakhstan and TCO’s shareholders,” said Kevin Lyon, TCO General Director. “We would like to express our sincere appreciation to the Government of the Republic of Kazakhstan, our shareholders, contractor companies, our talented and skilled workforce, and other stakeholders for their collaboration and support in helping us reach this milestone.” Kevin Lyon added.
Through FGP project, TCO supported technology transfers through partnerships with international companies and helped upgrade infrastructure in the Atyrau region.
“Kazakhstani companies have proven their outstanding capabilities in executing large-scale projects”, said Konilkosh Suyessinov, TCO Deputy General Director. “As part of FGP, Tengizchevroil has invested nearly $19.5 billion to purchase local goods and services and awarded over 1,250 contracts to Kazakhstani companies,” Suyessinov added.
At peak construction, FGP created about 90,000 jobs and during the projects’ implementation, TCO has helped create a legacy of trained and skilled national personnel who underwent about 37,500 training courses. They can now apply their experiences to other industrial projects within Kazakhstan and internationally.
