Bakytzhan Sagintayev meets with President of Chevron Europe, Eurasia and Middle East Exploration and Production, Todd Levy
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.
For reference: 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 the Republic of 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.
The Karachaganak project is implemented within the framework of the Final Production Sharing Agreement (FPSA) concluded between the Government Kazakhstan and the Alliance of Companies represented by British Gas (Shell) with 29.25%, ENI with 29.25%, Chevron with 18%, Lukoil with 13.5% and JSC KazMunaiGas with 10% of the shares. The agreement was signed on November 18, 1997 for a period of 40 years.
Actual production for 2017 amounted to 11.2 million tons of liquid hydrocarbons (with a plan of 10.7 million tons) and 18.9 billion cubic meters of gas (with a plan of 18.3 billion cubic meters). In 2018, the plan for the production of liquid hydrocarbons is 10.887 million tons, gas production is 18.37 billion cubic meters.
The Caspian Pipeline Consortium (CPC) pipeline, with a total length of 1510 km (452 km of which is a Kazakh section), connects the Tengiz Kazakhstan oil field and the South Ozereevka oil terminal on the Black Sea (near the port of Novorossiysk). It was put into operation in 2001. In 2017, CPC transported 55.1 million tons of oil via the CPC pipeline, including 49.6 million tons of oil from Kazakhstan.
Source: The Prime Minister of Kazakhstan