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

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.

Chevron expects Kazakhstan's Tengiz oil field, one of the largest of its kind in the world, to produce 1 million barrels of oil equivalent per day.