President • 04 April, 2018

Kazakh President participates in solemn event dedicated to the 25th anniversary of Tengizchevroil

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In his congratulatory speech to the audience, the Head of State stressed that exactly a quarter of a century had passed since the signing of the agreement on the Tengizchevroil project. This was reported by the press service of Akorda.

"In 25 years, Tengizchevroil has taken a leading position in the oil and gas market. Oil production since its launch has increased 30-fold and reached a historic milestone of three billion barrels," Nursultan Nazarbayev stated.

The President of Kazakhstan, noting the significant contribution of the enterprise to the economy of the country, focused on the fact that more than a third of the total volume of oil production in the country falls on Tengizchevroil.

"Tengizchevroil breathed life into thousands of Kazakhstani enterprises in the most diverse sectors of the economy: engineering, oil and gas service, transport and construction. These are taxes, dividends, purchases of goods and services from Kazakh companies. To date, more than 30 thousand of our citizens have been employed in the project, and the share of Kazakhstani goods and services exceeds 32% of all costs of the project," the Head of State said.

Nursultan Nazarbayev emphasized the necessity of successful application of modern digital technologies that increase productivity and production efficiency in the conditions of the Third Modernization of the country, as well as the introduction of elements of the Fourth Industrial Revolution.

"In connection with the volatility of oil and gas prices and the development of alternative technologies, there is a need for deep processing of oil and gas. Kazakhstan is also interested in this. The government together with the company should work out the issues of construction of processing enterprises and report on it. The first place in the processing sector is the construction of a new oil refinery. I am confident that Chevron, as always, will support this work," said the President of Kazakhstan.

The Head of State noted that the current achievements of the Tengizchevroil are the merit of its employees who have made a great contribution on their experience and knowledge.


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