Tengizchevroil (TCO), which operates Kazakhstan’s Tengiz oil field, plans to produce up to 40 million tons of oil by the end of 2026, according to Kazakhstan’s Ministry of Energy.
In 2025, TCO produced 39 million tons of oil. In the first half of 2026, TCO produced 16.6 million tons of oil. At that pace, annual production would total about 33.2 million tons.
Expansion reaches full capacity
TCO has reached its design capacity following completion of the largest expansion phase of the Tengiz field.
«Daily oil production has reached approximately 120,000 tons, and by the end of 2026, the company plans to produce up to 40 million tons of oil,» the ministry said in a statement issued after Yerlan Akkenzhenov, Kazakhstan’s minister of energy, visited the field.
During the visit, Akkenzhenov discussed current production levels, the company’s operational plans and the reliable operation of the facilities with TCO management.
As part of the 2024-2025 expansion, new production facilities were commissioned, and the third-generation plant produced its first oil in January 2025. The expansion project has now been completed, and the new facilities have reached their planned production capacity.
Ministry calls for stable operations
Akkenzhenov stressed the importance of maintaining stable operations and sustaining planned production levels through the end of the year.
«Tengiz is one of the key projects in Kazakhstan’s oil and gas industry. The new facilities have reached their design capacity, and it is now important to ensure the stable and reliable operation of the entire production complex. We expect TCO to provide a clear plan by the end of the year with specific measures to achieve the targeted production volumes,» he said.
Production setbacks
In January, TCO announced a temporary suspension of hydrocarbon production at Tengiz following a transformer fire.
In May, Reuters, citing two industry sources, reported that daily oil production at Tengiz had fallen to 5,000-10,000 tons because of the incident, down from about 125,000 tons previously.
Kazakhstan produced 45.7 million tons of oil in the first half of 2026, or 91.6% of the volume produced during the same period a year earlier. The shortfall totaled 3.3 million tons.
To help make up the difference, the Ministry of Energy held talks with major oil companies on increasing production.
U.S.-based Chevron owns 50% of TCO, Exxon Mobil holds 25%, KazMunayGas, Kazakhstan’s national oil company, owns 20%, and Russia’s Lukoil owns the remaining 5%.
