UPDATE 1-Kazakhstan expects decision on Tuesday on Tengiz oil field expansion (Adds context, background)ASTANA, July 4 Kazakhstan and a consortium of oil companies led by Chevron will announce on Tuesday their decision regarding a proposed plan to boost production at the Tengiz oil field, Kazakhstan's Energy Ministry said on Monday.The ministry's brief statement gave no details, but the market has been expecting the two sides to approve the expansion plan - one of the biggest oil projects in the world with costs estimated at $37 billion. Tengiz, in which Exxon Mobil and Lukoil also have stakes, will increase output to 36 million tonnes (720,000 barrels per day) a year by 2021 from 27 million tonnes currently, if the plan is approved. Daniyar Berlibayev, deputy chief executive of national oil company KazMunayGaz said in May that the expansion could be financed by borrowing. Tengizchevroil, the joint venture running Tengiz, sent final documents to banks for a $3 billion five- to seven-year loan agreement last week.Tengiz accounts for more than a third of total crude output in the Central Asian nation which is the biggest ex-Soviet oil producer after Russia. (Reporting by Raushan Nurshayeva; Writing by Olzhas Auyezov; editing by Vladimir Soldatkin, Greg Mahlich)
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