Ministry of Energy asks to optimize costs for expansion of Tengiz field

AKIPRESS.COM - The Ministry of Energy of Kazakhstan is concerned of the growth of costs for expansion of Tengiz field in Kazakhstan, Vice Minister Aset Magauov told a press conference today, Sputnik Kazakhstan reports. "This growth of cost estimate on the project of future expansion raises conerns of the government and our ministry. According to our information, now Tengizchevroil has prepared all estimates and sent them to their partners, including to the national company KazMunaiGaz. There are not any decisions from both sides yet," Magauov noted.
The Ministry of Energy is waiting for the results of consideration of this issue.
"We have expressed our concern at the meeting with heads of Tengizchevroil and Chevron companies so that they took measures on optimization of costs," the Vice Minister said.