Economy • 13 March, 2018

Bakytzhan Sagintayev meets Chevron’s president for Eurasia, Middle East exploration and production

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Kazakhstan’s Prime Minister Bakytzhan Sagintayev received President of Chevron Europe, Eurasia and Middle East Exploration and Production Company Jeffrey Todd Levy, primeminister.kz reports.

During the meeting, further cooperation with the company in the oil and gas industry was discussed. In particular, the issues of cooperation on Tengizchevroil LLP, the Karachaganak project and the Caspian Pipeline Consortium were considered.

Chevron was founded in 1879 under the name of Pacific Oil Coast Co. Headquartered in San Ramon (California, USA), operations are conducted in 180 countries around the world. The staff numbers 62 thousand people. The company's capitalization is $232 billion.

In Kazakhstan, Chevron participates in Tengizchevroil LLP (50%), the Karachaganak project (18%), the Caspian Pipeline Consortium (15%). The agreement on the Tengizchevroil LLP project (TCO) was signed on April 2, 1993, between Kazakhstan and Chevron. The license for the exploration and production of hydrocarbons was issued to TCO in 1993 for 40 years. The oil production plan for 2018 is 27.8 million tons.

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