*
Energy ministry: output at Korolev restarted, Tengiz to
restart
in near future
*
TCO says oil output slowly restarting after January 18
outage
*
Tengiz accounts for nearly half of Kazakhstan's oil output
*
CPC restored full loading capacity after completing
maintenance
(Adds background throughout, sources being sceptical about
output resumption, Caspian pipeline restoring crucial piece of
exporting equipment)
By Tamara Vaal, Felix Light and Vladimir Soldatkin
ASTANA/ALMATY/MOSCOW, Jan 26 (Reuters) - Kazakhstan is
poised to resume production from its biggest oil field, the
energy ministry said on Monday, but industry sources said
volumes were still low and a force majeure on CPC Blend exports
was still in place.
The world's number 12 oil producer has been recently plagued
by several incidents, including drone attacks on a crucial
exporting facility and a fire and power outage at Kazakhstan's
largest oilfield, Tengiz, which hurt its output and exports.
Tengizchevroil, led by Chevron ( CVX ), had temporarily
halted production at the Tengiz and Korolev oilfields on January
18.
Chevron ( CVX ) said on Monday that the company has restarted oil
production, without naming the field.
POWER SUPPLY RESTORED TO OIL FIELDS
"Tengizchevroil (TCO) confirms safe commencement of the site
power distribution system and the resumption of initial crude
oil production," a Chevron ( CVX ) spokesperson said on Monday.
Separately, Kazakhstan's energy ministry said on Monday that
Tengiz was preparing to resume oil output soon, and that
production at the Korolev oilfield was already in operation.
"The safe start-up of the power supply system has now been
confirmed, and the Tengiz field will be brought back online in
the near future," the ministry said.
However, at least two industry sources expressed their
scepticism about the scale of the initial oil production, noting
that TCO has yet to lift a force majeure on CPC Blend supplies
issued after the field's shutdown.
Chevron ( CVX ) said it does not comment on specific details of its
operations.
One source said that the fields now produced only around
8,000 metric tons per day, an equivalent of about 60,000 barrels
per day, only about 6% of its usual levels.
JPMorgan said on Friday that Tengiz might remain offline for
the rest of the month, and estimated Kazakhstan's January crude
was likely to average between 1 million and 1.1 million barrels
per day, compared with a usual level of around 1.8 million bpd.
KAZAKHSTAN'S GOVERNMENT MEETS EXXON
Kazakhstan's government said earlier on Monday that Prime
Minister Olzhas Bektenov had met ExxonMobil ( XOM ) Vice
President Peter Larden and urged the U.S. energy company to
accelerate work to deal with the outage and prevent similar
incidents in future.
With a 25% stake, ExxonMobil ( XOM ) is the second-largest
shareholder in the TCO consortium behind Chevron ( CVX ), which holds
50%. Kazakhstan's KazMunayGaz has 20%, and Russia's Lukoil 5% of
the group.
CASPIAN PIPELINE CONSORTIUM RESUMES SPM-3 OPERATIONS
The Caspian Pipeline Consortium (CPC), which operates
Kazakhstan's main exporting pipeline said on Sunday that it
returned to full loading capacity at its terminal on the Russian
Black Sea coast after maintenance was completed at one of its
three mooring points, known as SPMs.
An industry source said that the crude oil tanker Paschalis
DD is scheduled to dock at the terminal for loadings from the
repaired SPM-3 on Monday at 2 p.m. (1100 GMT).
Oil exports via the CPC dropped by 24% in December from the
previous month, according to an industry source, to 3.98 million
metric tons, or around 1.02 million barrels per day.