18 Aug 2022 12:38

KazMunayGas, Chevron CEOs discuss oil exports, joint projects

ALMATY. Aug 18 (Interfax) - KazMunayGas (KMG) CEO Magzum Mirzagaliyev and Chevron Corporation Chairman of the Board and CEO Michael Wirth discussed oil exports and joint projects during a videoconference.

The two "discussed a wide range of urgent issues of mutual interest focusing on the priority of ensuring exports of oil and oil products for Tengizchevroil," KMG, Kazakhstan's national oil and gas company, said.

They also discussed the implementation of petrochemical projects.

"Given the global trends of using alternative energy sources, the priority for the oil and gas sector lies in developing the petrochemical industry that will become the main consumption sector of oil and gas. Thanks to Chevron's support, the ongoing anchor projects in the production of polypropylene, polyethylene, and butadiene are supplied with raw materials from the Tengiz field," Mirzagaliev was quoted as saying in the press release.

KMG and Chevron CEOs also highlighted the importance of the timely implementation of the Future Growth Project and Wellhead Pressure Management Project and helping the local authorities with the re-employment of workers after the completion of the projects.

Chevron is a major foreign investor in Kazakhstan with stakes in the three largest projects: Tengiz - 50%, Karachaganak - 18%, and Caspian Pipeline Consortium - 15%.