Nazarbayev and Masimov receive Chevron CEO David O'Reilly

    President Nursultan Nazarbayev has received Chairman of the Board of Directors and Chief Executive Director of Chevron Corporation David O'Reilly; Kazinform cited a presidential press release.
    Mr. O’Reilly informed the president on the results of TengizChevroil’s operations. Through the company’s expansion project, it plans to increase oil output to 24 million tons per year.
    The corporation’s investment plans in Kazakhstan, including the development of the Atyrau Polyethylene Pipe Plant and the construction of a steel plant, were also discussed.
    “Since 1993 the joint venture has invested about US $30 billion in Kazakhstan’s economy.
    As a comparison, Chevron gained about US $3 billion over that period. This means the project is fully functional,” O’Reilly said.
    Then Prime Minister Karim Masimov held a meeting with the Chevron delegation and Mr. O'Reilly at the Ukimet Uyi, a government press release said.
    They discussed the development of Kazakhstani fields, prospects for expanding the CPC oil pipeline, and Chevron’s participation in the creation of the Kazakhstani Caspian oil transportation system and other infrastructure projects.
    O’Reilly noted that the company is paying special attention to increasing Kazakhstani content in goods and services. Despite the current economic slowdown, the Corporation plans to increase it further this year, he said, Kazinform reports.