The Tengiz Field in Kazakhstan was revealed by Soviet geologists in the year 1979 but was largely overlooked for a long time as their petroleum development efforts were concentrated by the Soviets elsewhere.
When Chevron formed a joint venture with the Kazakh authorities in 1992, development of Tengiz started. By the spring of 2011, while creating 700,000 barrels of petroleum per day (bbls/d), Tengiz was depicting just half the petroleum expected. Chevron was under increasing pressure from its partners, including the Kazakh authorities, to bring the joint venture to its guarantee that is productive.
PUBLICATION DATE: December 31, 2012 PRODUCT #: TB0317-PDF-ENG
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