10/21/2020 | News release | Distributed by Public on 10/21/2020 02:47
The President receives Michael Wirth, Chairman of the Board and Chief Executive Officer of Chevron Corporation
Kassym-Jomart Tokayev held a meeting with Michael Wirth, Chairman of the Board and Chief Executive Officer of Chevron Corporation in video conference format.
During the meeting, they discussed the prospects for cooperation between Kazakhstan and Chevron, the implementation of a number of projects in the hydrocarbon sector amid the ongoing COVID-19 pandemic, as well as the situation on the global energy market.
The Head of State highly appreciated the cooperation with Chevron and its great contribution to the development of Kazakhstan's economy.
'Chevron has a strong presence in country's energy sector, earning a reputation as a reliable partner in the implementation of Kazakhstan's largest oil and gas projects, such as Tengiz and Karachaganak. Unfortunately, the coronavirus pandemic has negatively affected the oil and gas industry, causing imbalance in supply and demand in the oil market and a decline in oil prices,' said Kassym-Jomart Tokayev.
President Tokayev stressed the importance for Kazakhstan to complete to the Future Growth Project at the Tengiz field on time by 2022. He commended the company's activities in implementing the project, noting that some of the construction deadlines were met ahead of schedule.
The two sides also discussed issues related to tackling the coronavirus pandemic. The Head of State expressed gratitude to Tengizchevroil for well -coordinated work in preventing massive infections and stabilizing the sanitary and epidemiological situation at the field. He also thanked Michael Wirt for providing the Kazakhstan's Health Ministry for providing medicines and personal protective equipment for total amount worth $20 million dollars, organizing the visit of foreign clinicians and epidemiologists to the country, as well as financing the construction of a 200-bed infectious diseases hospital in Kulsary.
In addition, Kassym-Jomart Tokayev focused on the importance of ensuring the share of Kazakh content in the implementation of projects in Tengiz. In this regard, he supported the creation of a Local Content Fund to drive investment projects.
The President also touched upon the development of the Karachaganak oil field, pointing out the need to ensure the timely implementation of this project and maintain oil production at the level of 10-11 million tons per year.
In turn, Michael Wirt warmly recalled his meetings with Kassym-Jomart Tokayev in 2019 in Nur-Sultan and New York, and thanked him for the opportunity to meet again.
'I really appreciate the history of our long-term partnership. Kazakhstan is a special country for us and a very important area in the activities of our company. Therefore, we intend to continue our cooperation in the energy sector of Kazakhstan, in particular, in the Tengiz and Karachaganak fields. We know that Kazakhstan is a wonderful country with oil and gas resources, and we are happy to be a constructive partner of your country in the implementation of various projects,' said the CEO of Chevron.