Confirming comments by Kazakh officials, TCO operator Chevron said the review and cost reduction efforts were going well at the wellhead pressure management project involving 250,000 to 300,000 barrels per day — representing an increase of about 50% in fresh crude output capacity at the giant field.
“We shifted the investment decision to later this year to take the time to reduce costs by optimising the design, and to negotiate with suppliers to capture savings available in the current environment,” Chevron senior vice president of upstream, Jay Johnson, told a meeting with analysts.
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