Bozumbayev told about the progress of Tengiz FGP implementation and share of Kazakh content

The total progress of works at the Tengiz Future Growth Project (FGP) was 61.1% by the end of May 2019. Kanat Bozumbayev, Kazakhstan Minister of Energy, told about it during the current meeting with population.

Accordingtothe 2019 plan, theMinisterofEnergydatastatethatit is planned to develop $3.1bln at the FGP. Kazakhcontentis$1.8blnofthem. Atthat, totalannualplanis 74% performed.

Thisyear, itisplannedtocomplete all the design works. 47 piper acks will be produced at the Ersai production site and 40 modules will be produced at a plant in Korea and delivered to Tengiz through Prorva port.

The actual disbursement of funds since the project launch is $24.5 bln, and $7 bln have been spent on the procurement of Kazakh works and services. 61.1% is actually performed.

“45 500 Kazakhstanipeopleareworkingfor the project. Third generation plant, sour gas injection facilities and oil gathering systems are being built, drilling of wells is in progress”, Kanat Bozumbayev says.

Let us recall that the Future Growth Peoject at the Tengiz field is being implemented since 2016 and should be completed in 2022. The project costs $36.8 bln and the share of  Kazakh content should be 32% or $ 12 bln of them.

As soon as the project is implemented, the oil production level of the field should rise from current 28 bln of tons to 39 bln of tons per year.

The company is planning to produce 29.1 mln tons of oil in 2019. Ithasalreadyproduced12.5 mln oftons for the first 5 months.

It is planned to perform field work over August 1 to September 12, 2019.

During his speech, the Minister of Energy also disclosed data on oil production in two the large fields. While there has been 4.24 mln tons of oil extracted at the Kasagan offshore site, January to May 2019, the onshore site – Karachaganak – produced 5 mln tons of hydrocarbons for the same period.

While Kashagan work over has been held April 14 to May 19 this year, it is planned to perform similar works at Karachaganak from the 15 of September to the 13 of October this 2019 year.