Kazakh Energy Ministry, Chevron discuss development of Tengiz, Kashagan, and Karachaganak oilfields

According to the ministry, the talks discussed the status of the implementation of the largest oil and gas assets involving American capital. It was noted that over more than 30 years of presence in Kazakhstan, Chevron Corporation has established itself as the largest foreign investor, introducing advanced technological solutions at the Tengiz and Kashagan oilfields.

Yerlan Akkenzhenov stressed the stable operation of key projects, highlighting the successful completion of the Future Growth Project (FGP) at Tengiz. Joint steps were also discussed to gradually increase production capacity at Karachaganak and maintain efficient production at the North Caspian project, reads the statement.

A separate part of the talks focused on the development of export logistics.

The sides discussed in detail the prospects for diversifying routes, including expanding the potential of the Trans-Caspian International Transport Route (Middle Corridor), which is gaining strategic importance for the reliable transportation of Kazakhstan’s hydrocarbons to global markets, the ministry said.

During the meeting, the sides also highlighted their commitment to the strategic nature of bilateral partnership.

The Kazakhstani side outlined its key priorities in cooperation with foreign capital: ensuring a guaranteed long-term supply of energy resources to the domestic market, promoting technology transfer, and increasing the socio-economic benefits of implemented mega-projects for the population of the republic, the ministry added.

In conclusion, Akkenzhenov and Michael Wirth agreed to continue a constructive dialogue aimed at the long-term sustainable development of Kazakhstan’s largest oil and gas assets.

Earlier, Qazinform reported Kazakhstan’s Energy Ministry and S&P Global discuss energy market prospects.