Kazakh-U.S.-Russian consortium TCO buys copper cable worth $329,000 from Azerbaijan
BAKU. July 3 (Interfax) - Azerbaijan-based Sumgaity Technical Park (STP) has made its first shipment of low-voltage copper cable to Kazakhstan, STP said in a statement.
"The cable is supplied under the bilateral agreements signed in June of this year by Tengizchevroil [TCO], which develops the Tengiz field. The contract is for supply of 55 tonnes of cable for a total value of $329,000," the statement said.
The next shipment will be made in the coming few days.
TCO plans to sign other agreements on cable supply.
Sumgaity Technical Park is part of Azenco, which provides construction services in the energy sector.
TCO develops the Tengiz and Korolev oil and gas fields in the Atyrau region, west Kazakhstan.
The four-company consortium is currently owned by American ChevronTexaco Overseas (50%), ExxonMobil Kazakhstan Ventures Inc. (25%), Kazakhstan via national company KazMunayGas (20%) and Russian-American JV LUKArco (5%). It has been operating in Kazakhstan since 1993.