Kazakhstan expects no annual losses from Tengiz disruption
Kazakh Energy Minister Yerlan Akkenzhenov commented on the consequences of the incident at the Tengiz field, Qazinform News Agency reports.
He said the incident has so far resulted in losses of around 900,000 tonnes of oil.
“Financial losses can be calculated in different ways, as the state uses a complex assessment mechanism. This includes royalties, taxes and the republic’s share, including KazMunayGas. Once all repair work is completed and the full extent of the losses is determined, we will provide the figures,” Akkenzhenov said.
He added that meetings have already been held with the management of Chevron and Tengizchevroil (TCO), who have committed to making up for the production shortfall.
“As a result, we expect Kazakhstan to avoid any losses on an annual basis,” he said.
Earlier, Qazinform News Agency reported that a fire broke out at the Third Generation Plant (3GP) in the Zhylyoi district on Sunday morning, January 18, resulting in the evacuation of more than 450 workers.
