However, the $12 billion-to-

$16 billion project must overcome a number of obstacles, including Kazakh­stan’s insistence on first defining the allocation of the planned new output and settlement of an existing dispute over reservoir access.

TCO, which pumped more than a quarter of the country’s oil in 2009, will produce an extra 
12 million tonnes (88 million 
barrels) per annum of oil to boost its overall output to 264 million barrels, said ­Kairgeldy Kabyldin, president of state-owned Kaz­Munaigaz, a 20% stakeholder in the consortium.

Industry