The energy giant is spending nearly $50 billion to expand the Tengiz oil field, allowing it to pump one million barrels a day.

Operator Tengizchevroil reports another major milestone in commissioning $47.1 billion capacity upgrade project

Chevron has launched a $48 billion project to develop a major oilfield in Kazakhstan, one of the world’s largest oil reserves. The

Tengiz is one of the world's deepest and most complex fields due to high levels of sulphur and harsh weather conditions

Chevron said on Friday it had started production at a $48 billion expansion of the giant Tengiz oilfield which will bring its output to around 1% of global crude supply.

Chevron said on Friday that it has started producing oil from an expansion at Kazakhstan’s Tengiz oilfield, which could help lift the project’s total output to 1 million barrels per day at full capacity.

Chevron (NYSE:CVX) said Friday it achieved first oil from newly built production and processing facilities at Kazakhstan's huge Tengiz oil field, completing a $48B expansion that will bring its production to ~1% of global crude supply.