EM CEEMEA CREDIT: TENGIZ: started production at Tengiz's FGP
Jan-24 08:28
Tengizchevroil (TENGIZ; Baa2/-/BB+)
- TENGIZ 3.25 Aug30 charts @ z+243bp, some 23bp tighter and outperforming versus peers over the last three months (see chart below).
- Kazakhstan’s Tengiz oilfield operator Tengizchevroil, a JV between KazMunayGas, Chevron, ExxonMobil and Lukoil, announced today that it started production at its Tengiz Future Growth Project through its Third-Generation Plant (TGP). According to the Co. production is expected to increase over time by 12mn tons, bringing the total Tengiz production at full capacity to 40mn tons per annum.
- “Tengizchevroil Achieves First Oil Production at Tengiz Future Growth Project” Source: Co. website.
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