Kazakhstan has coordinated the project for the expanding of the Tengiz deposit costing $23 billion

The Kazakh authorities have coordinated the project for expanding of the Tengiz deposit costing $23 billion. It presupposes a growth in oil production from 26 million tons of oil to 38 million tons a year, the Deputy Chairman  of KMG, JSC K. Iskaziyev says.

The deposit was discovered in 1979. It is one of the world deepest and large oil deposits. In 1993, the Government of Kazakhstan and Chevron signed the agreement and founded Tengizchevroil LLC under its results.

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