PM holds meeting with Chevron CEO

NUR-SULTAN. KAZINFORM – Kazakh Prime Minister Askar Mamin and Michael K. Wirth, Chairman of the Board and CEO of Chevron Corporation, discussed perspective cooperation in oil production, Kazinform reported with the reference to primeminister.kz.

Mr. Mamin noted that over the past years Kazakhstan and Chevron had built mutually beneficial cooperation. The Prime Minister expressed interest in increasing the share of local content in the company's procurement in ongoing projects.

The parties talked about a project of future «Tengizchevroil» (TCO) modernization which is worth $36.8 billion. By commissioning the project in 2022, TCO’s recovery will grow by 12 million tons per year.

Mr. Wirth reported on Chevron's activity and outlined the capacity of the projects running in the territory of Kazakhstan. Kazakhstan and Chevron collaborate within the following projects: Tengiz (50%), Karachaganak (18%) and the Caspian Pipeline Consortium (15%). In addition to recovery and transportation of energy producing material Chevron has been ensuring the operation of the Atyrau polyethylene pipe plant as well as the Atyrau pipe fittings plant and more.

It is worth noting that the meeting was also attended by Energy Minister of Kazakhstan Kanat Bozumbayev, CEO of JSC NC «KazMunayGas» Alik Aidarbayev and governor of Atyrau region Nurlan Nogayev.