Chevron Chief Executive Officer John Watson meets President Nazarbayev

Kazakhstan President Nursultan Nazarbayev met Chevron Chief Executive Officer John Watson today, the President’s official web site reports. Mr. Watson briefed Head of State on operations of the TengizChevroil JV at Tengiz oilfield. According to Mr. Watson, last year the Company had set a record in terms of production output volume. “The most important is great performance in terms of environment protection and labor safety”. He also emphasized that the local employees account for 85% of the Company’s staff. "Chevron is already employing the latest technology to develop Tengiz. Notably, we are using raw gas injection technology (…) recently we have completed construction of a facility to produce metal-plastic pipes (…) the Company plans to invest into construction of a wind farm, contributing to development of renewable sources of energy in Kazakhstan”. Chevron is Kazakhstan's largest private oil producer, holding important stakes in the nation's two biggest oil-producing projects—the Tengiz and Karachaganak fields. Tengiz is the world's deepest operating super-giant oil field, with the top of the reservoir at about 12,000 feet deep (3,657 m). Chevron holds a 50 percent interest in Tengizchevroil (TCO), which operates the field. The partnership also is developing the nearby Korolev Field. Chevron also holds a 20 percent interest in the Karachaganak Field, Kazakhstan's second-largest producing petroleum reserve. Chevron is the largest private shareholder in the Caspian Pipeline Consortium pipeline. The pipeline provides a critical export route for crude oil from TCO and Karachaganak. Chevron also has a polyethylene pipe plant in Atyrau.