SAN RAMON, Calif., April 25, 2024--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) announced today that its 50 percent owned affiliate Tengizchevroil LLP (TCO) has safely commenced operations at its Wellhead Pressure Management Project (WPMP) at the Tengiz oil field in Kazakhstan.

TCO achieved this milestone by converting its first metering station at Tengiz to low pressure and activating the associated Pressure Boost Facility (PBF). This marks important progress for TCO’s overall expansion project at Tengiz.

The WPMP is designed to maintain the existing processing plants’ full capacity (approx. 28 million tonnes per annum), by lowering the flowing pressure at the wellheads and then boosting the pressure to the existing plants.

"This is a significant step towards completion of the Future Growth Project (FGP). It is also important progress for the modernization of the existing base business at Tengiz and demonstrates TCO’s commitment to safely and reliably manage operations, while maximizing the ultimate recovery of resources critical to global energy security," said Clay Neff, President of Chevron International Exploration and Production.

The start-up of additional PBF compressors and the conversion of the remaining metering stations in the oil gathering system at Tengiz, from high pressure to low pressure, is scheduled for completion through the remainder of the year.

The final phase of TCO’s expansion project, FGP, is on track to conclude in the first half of 2025. This will enable TCO to expand Tengiz crude oil production by an incremental 12 million tons per annum (260,000 barrels a day).

"This accomplishment highlights the vital role of partnership. Together with the Republic of Kazakhstan and our other partners, we have safely started operations at the WPMP, which is a positive development as we continue our focus on the FGP-WPMP expansion project," said Derek Magness, Managing Director of Chevron’s Eurasia Business Unit.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable, and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals, and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations, and grow lower carbon businesses in renewable fuels, carbon capture and offsets, hydrogen and other emerging technologies. More information about Chevron is available at www.chevron.com.



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