Kazakh president, Chevron CEO discuss cooperation in oil, gas projects

ASTANA. Sept 22 (Interfax) - Kazakh President Kassym-Jomart Tokayev has met with Chevron's chief executive Michael Wirth in New York to discuss cooperation under oil and gas projects, including the development of hydrocarbon supply routes to world markets, the president's press service said in a statement on Monday.

"The meeting focused on matters concerning the implementation of a future project to expand the Tengiz [oil field], the prospects of natural-gas extraction and processing at Karachaganak [Field] and the development of hydrocarbon supply routes to global markets, including via the Middle Corridor," the statement said.

The president also noted Chevron's substantial contribution in his country's development.

"Over the years of independence Chevron, involved in the development of big fields such as Tengiz and Karachaganak, invested around $55 billion. Currently Kazakhstan accounts for around 25% of the total output of one of the biggest energy companies on the planet," the statement said.

Chevron owns 50% in Tengizchevroil, which operates Tengiz, one of the biggest oil and gas fields in Kazakhstan. The corporation also owns 18% in Karachaganak Petroleum Operating B.V. and 15% in Caspian Pipeline Consortium (CPC) through Chevron Caspian Pipeline Consortium Company.