TCO Sends First Oil to Germany via Druzhba Pipeline as Tengiz Output Grows
(Reuters) — Kazakhstan's Tengizchevroil (TCO) exported its first oil to Germany last month via Russia's Druzhba pipeline, supplying 100,000 metric tons, two industry sources told Reuters, as the venture ramps up production.
TCO is owned by Chevron with a 50% stake, ExxonMobil with 25%, KazMunayGaz with 20%, and Lukoil with 5%. It operates Kazakhstan's largest oilfield, Tengiz.
The consortium declined to comment.
Kazakhstan's main oil exporting channel goes via the Caspian Pipeline Consortium, which ships around 80% of the country's oil via Russia's Black Sea terminal. But the world's largest land-locked country is striving to diversify its exporting routes.
Chevron said in January it had begun a $48 billion expansion of Tengiz, which is one of the world's deepest and most complex fields due to high sulphur levels and harsh weather conditions.
Output at the field in January to May reached 15.9 million tons, according to KazMunayGaz.
Kazakhstan's oil exports to Germany via the Soviet-built Druzhba (Friendship) pipeline, are forecast to rise this year to 2 million tons, or around 40,000 barrels per day, from 1.5 million tons in 2024.
Kazakhstan has given its oil, supplied via Russia, the name KEBCO (Kazakhstan Export Blend Crude Oil) to distinguish it from Russia's Western-sanctioned Urals blend.
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