Alikhan Smailov discusses Karachaganak project extension with Chevron reps
The meeting discussed the issues of implementing the future extension project and Tengizchevroil wellhead pressure management project as well as prospects for the development of the Karachaganak project and increasing the capacity of the Caspian Pipeline Consortium.
«It is essential to ensure the timely launch of all projects being implemented. It is important to carry out quality monitoring of lay-offs and employment,» said Smailov.
The PM underlined that the Kazakh Government pays special attention to the development of the Tengiz oilfield and is committed to the further development of long-term cooperation with Chevron. In his turn, Mr. Johnson thanked the Kazakh Government for ensuring a favourable investment climate and dealing with the issues emerging while implementing the projects in the oil and gas sector.
Once the future extension project is completed by the end of 2023 it will be possible to increase the production volume to 12mln tons per year. The issue of supplying Tengizchevroil’s commodities to the two large gas-chemical projects for polypropylene production in Atyrau region is considered.
In October 2021 the Kazakh Energy Ministry and Chevron signed the memorandum of mutual understanding to create a Direct Investment Fund in Kazakhstan with the amount of $248.5mln. The funds are planned to be spent to develop the economy and local content through investing in Kazakh enterprises in production of goods, performance of work, and rendering of services in the oil and gas sector, environmental protection, as well as information and digital technology.