Chevron has acknowledged that its massive onshore Tengiz expansion projects in Kazakhstan are expected to cost the company as much as $4 billion to $5 billion more than budgeted, adding that planned start-up one of the two main schemes has been delayed by a year.
The US supermajor said in an earnings presentation last week that the project, in which it has a 50% stake, had blown past its prior contingency cost ceiling of $36.8
