Kazakhstan receives $77 billion from Chevron in 20 years

04 апреля 2013, 17:10
Kazakhstan President Nursultan Nazarbayev taking part in celebration of TengizChevroil's 20th anniversary. Photo courtesy of President's press-service
Kazakhstan President Nursultan Nazarbayev taking part in celebration of TengizChevroil's 20th anniversary. Photo courtesy of President's press-service
Kazakhstan President Nursultan Nazarbayev took part in the celebration ceremony of the 20th anniversary of TengizChevroil establishment, Tengrinews.kz reports citing the President's press-service.

According to Nazarbayev, the company's total contribution to Kazakhstan's economy, including the taxes, has made around $77 billion. "I visited the United States in 1990, where I was looking for ways for Kazakhstan to follow into its new history. I visited all major facilities of Chevron corporation including the ones located in the Gulf of Mexico and checked into its ecological and technological capacities. In the beginning of our partnership we had no laws on investments protection, on subsoil use, taxes and other legislative base. Over the last 20 years Chevron has invested around $20 billion. Kazakhstan received around $77 billion, including taxes. $800 million were invested in social development of Atyrau oblast. Thousands of Kazakhstan professionals were trained and jobs were given to 3,300 Kazakhstan citizens. Atyrau is currently one of the beautiful cities of our country and we call it the oil capital of Kazakhstan," the President said.

The President stressed that the company increased its production 26-fold and Kazakhstan's economy grew 16-fold in 15 years. "Kazakhstan content was very important. The company is currently making around one third of all its procurement in our country. We want this value to keep growing. I am thankful that you have fulfilled my request and have built the polyethylene pipes plant and the sea academy in Atyrau oblast. I would also like to mention that construction of the Youth Palace in Atyrau has started. I think this is a joyful event for all Atyrau citizens," Nazarbayev said.

The President added that the joint work continued and these were plans to implement a $7.5 billion project to increase production. "It was important for me that Chevron corporation is successful in our country to demonstrate other companies and the whole world that Kazakhstan is a good place to set up a successful business in. You did it and I'm thankful to you. Thanks to Chevron's activities, we have established good relations with the United States and many American companies are working successfully in Kazakhstan. We have set a task of joint to club of the top 30 developed countries of the world by 2050, that's why we are pursuing the program of accelerated industrial-innovative development. I am confident that Chevron will take an active part in this program. It is necessary that you work jointly with the government to set up enterprises for production and processing of oil, production of equipment for oil production and processing, create new jobs and open new companies," the President said.

Former Chairman of Chevron Kenneth Derr said that the new capital of Kazakhstan is a manifestation of the outstanding progress of the whole country that is seen in every citizen, as well as in the President's leadership in the national and global scale.

During the event the U.S. Ambassador Extraordinary and Plenipotentiary to Kazakhstan Kenneth J. Fairfax read the letter of the U.S. Secretary of State John Kerry that said that partnership between Kazakhstan and Chevron ushered in a long-term cooperation and became the basis for successful economic relations between Kazakhstan and the United States.

В мероприятии приняли участие премьер-министр Серик Ахметов, руководитель Администрации Президента Карим Масимов, председатель совета директоров компании "Шеврон" Джон Уотсон, экс-председатель совета директоров компании Кеннет Дерр, управляющий директор Евразийского подразделения "Шеврон" Скотт Дэвис, а также представители предприятий, занятых в нефтегазовой сфере Казахстана.

The even was attended by Kazakhstan Prime-Minister Serik Akhmetov, head of Kazakhstan Presidential Administration Karim Massimov, Chairman of Chevron John Watson, its former Chairman Kenneth Derr, Managing Director of the Chevron Eurasia Business Unit Scott Davis, as well as the representatives of Kazakhstan's oil and gas companies.

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