BAKU, Azerbaijan, Oct. 21
By Nargiz Sadikhova - Trend:
Kazakhstan’s President Kassym Jomart Tokayev highlighted the importance of a timely launch of the project Tengiz Growth Project in 2022, Trend reports citing the press office of Kazakhstan’s president.
The topic was discussed during a meeting between Tokayev and CEO of Chevron Corporation Michael Wirth held via video conference.
Within the framework of the meeting, parties discussed cooperation prospects of Chevron with Kazakhstan, the implementation of several projects in the hydrocarbon sector within the COVID-19 pandemic, as well as the situation in the global energy market.
Tokayev noted that sadly the COVID-19 pandemic has negatively affected the oil and gas sector having disrupted the balance between supply and demand, and decreasing the oil prices.
Kazakhstan’s president also called the timely launch of the Tengiz Future Growth Project by 2022 to be important for Kazakhstan. He welcomed the company's activities to implement the project, noting that several tasks are being completed ahead of schedule.
Furthermore, Tokayev also emphasized the importance of ensuring the large share of local content in the implementation of projects at Tengiz. In this context, he supported the creation of a Local Content Fund for the implementation of joint investment projects.
The president also touched upon the development of the Karachaganak oil field, pointing out the need to ensure the timely implementation of the projects at the field and maintaining oil production at the level of 10-11 million tons per year.
In turn, Wirth noted that the company is ready to continue cooperation with Kazakhstan in the energy sector, in particular at the Tengiz and Karachaganak fields.
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