Chevron-led TCO Completes Maintenance at Tengiz Oilfield in May
(Reuters) — Chevron-led Tengizchevroil (TCO) said on Monday it completed a major maintenance at giant Tengiz oilfield in Kazakhstan in May, while already mapping out plans for the next maintenance in August.
In accordance with its policy, TCO has not revealed the dates of the maintenance, nor production volumes.
Two industry sources said that TCO restored oil output at the end of last month to around 80,000 metric tons of oil per day from some 59,000 - 63,000 tons per day in early May.
Sources also said that TCO reduced total oil production last month by around 312,580 tons from April to a daily average of 66,926 tons (532,732 barrels per day).
TCO exports oil mainly via Caspian Pipeline Consortium's Black Sea terminal near Russian port of Novorossiisk. Some 5% of its crude exports also go through the Baku - Tbilisi - Ceyhan pipeline.
Chevron holds a 50% stake in TCO, ExxonMobil owns 25%, Kazakh state firm Kazmunaigas holds 20% and 5% belongs to Russia's Lukoil.
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