Chevron's TCO Partially Restored Output on Its Tengiz Oilfield in Kazakhstan

(Reuters) — Chevron-led Tengizchevroil partially restored oil output on its giant Tengiz oilfield in Kazakhstan on Monday after a sharp fall following the damages on Caspian Pipeline Consortium (CPC) Black Sea terminal in the end of March, Reuters reported on Tuesday.

Daily oil output on Tengiz oil field was at 556,157 barrels per day (bbl/d), up 48% from 375,195 bbl/d on April 4, when production on the field fell to the lowest level since CPC pipeline outage in the end of March, according to the sources and Reuters calculations. The output level was still below March average of 622,209 bbl/d.

Kazakh oil output has been in decline since the end of March, when CPC system cut intake owing to storm damage to loading facilities at its Black Sea terminal situated in the south of Russia. 

More than 80% of Kazakhstan's crude is exported via the CPC pipeline to the port of Yuzhnaya Ozereyevka, close to Novorossiisk, supplying around 1.2% of global oil demand.

Tengiz oil output started to fall sharply as soon as on March 24 following CPC suspension of the loadings on March 23, and has been in decline until early April, according to the sources citing daily output data.

Tengizchevroil was able to increase output after CPC pipeline had allowed higher oil intake following partial resumption of loadings from the Black Sea terminal, two industry sources familiar with the matter told Reuters.

The company also agreed on some supplies via alternative export routes in April, they added, but didn't give further details.

Chevron representative refused to comment on TCO's oil output volumes increase and oil export flows diversion.

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