Prime Minister of Kazakhstan Olzhas Bektenov held a meeting with Derek Magness, Managing Director of the Eurasian division of Chevron.

The parties discussed the launch of new production facilities, increasing the share of local content in the procurement of goods, works and services, topical issues of development of oil and gas industry and petrochemicals, as well as the implementation of social projects in Kazakhstan.

Prime Minister noted that on the instructions of the Head of State Kassym-Jomart Tokayev, large-scale economic reforms are being carried out in the republic, which should create conditions for annual GDP growth of 6% or more.

"The government will create the most comfortable conditions for investors to implement projects and will provide the necessary support. In turn, we also expect from our partners active actions on timely implementation of joint plans, providing for the maximum use of local potential, technology transfer and deep processing of raw materials," Olzhas Bektenov said. 

Prime Minister emphasized the need to complete in time the projects of future expansion and wellhead pressure management at the Tengiz field in the 1st half of 2025 and 1st half of 2024, respectively.

He added that the Government also attaches great importance to the development of the Karachaganak field. The priority here is to maintain oil and condensate production at the level of at least 11 million tons per year.

"The conceptual decision on the implementation of the project of construction of a gas processing plant at Karachaganak with a capacity of 4 billion cubic meters per year is important for the future development of the field," Olzhas Bektenov stressed.

At the same time, Prime Minister emphasized that one of the priorities of economic policy is the development of local content.

"Closer interaction with domestic manufacturers interested in production is required. At the same time, if the necessary goods or equipment are not produced in the country, we want to see concrete plans to localize these productions in Kazakhstan in the next 2-3 years. I convincingly ask you to reconsider the work in this direction," Prime Minister said.

In turn, Derek Magness confirmed the readiness of Chevron to strengthen cooperation with Kazakhstan in all areas of interest.

"We are happy to work together and develop our partnership. "Chevron" supports those efforts that are made to develop the economy of the country. Today, good conditions are being created for investments and new projects. We see opportunities for future development in the context of our partnership," he said.

#Olzhas Bektenov #The Prime Minister of the Republic of Kazakhstan #Energy #Investments #Oil & Gas