18 August 2022, 18:21
The Prime Minister of the Republic of Kazakhstan, Alikhan Smailov, held a meeting with the Chairman of the Board of Directors, Chief Executive Officer of Chevron, Michael Wirth.
The parties discussed the current activities of the company in Kazakhstan, the supply of marketable and liquefied petroleum gas in the domestic market, as well as the implementation of joint projects at the Tengiz and Karachaganak fields.
The Head of Government noted that Chevron is one of the first strategic partners of Kazakhstan, which during the years of work in our country has participated in solving many economic and social problems.
"At the same time, current events in the world require us to expand cooperation in the energy sector. An agreement has been reached to sell an additional amount of marketable gas to the national company QazaqGaz on the instructions of the head of State. This will have a great effect on our resource base," Alikhan Smailov said.
The Prime Minister also noted the importance of implementing future expansion and wellhead pressure management projects at Tengiz.
The Head of Government added that Kazakhstan pays special attention to the issue of providing the domestic market with liquefied petroleum gas. In this regard, the issue of additional allocation of gas to the domestic market from the resources of TCO is being considered.
In addition, Alikhan Smailov noted the work undertaken by Chevron to create a private equity fund to the amount of $248 million, which will be implemented by domestic investment projects.
In turn, Michael Wirth confirmed Chevron's readiness to continue implementation of the existing joint projects.
"Kazakhstan has great prospects for the energy sector development. Realizing this potential will help create new jobs and open up additional opportunities for the economy. A lot of work has already been done on our projects, but there is still much work to be done in the future," Michael Wirth said.
The Prime Minister also said that an improved model contract for investors, containing a package of fiscal and regulatory preferences, is being developed as part of an increase in the investment appeal of the oil and gas industry. It will apply to new offshore projects, complex onshore projects and gas projects.
"We have come a long way together. I want to assure you that the Government of Kazakhstan is always open to a constructive dialogue in the implementation of our joint plans," Alikhan Smailov concluded.