President Nazarbayev met with Chevron CEO John Watson

The parties discussed further cooperation of Kazakhstan and Chevron in oil and gas sector, implementation of joint projects, as well as expansion of the corporation’s participation in development of deposits.

As the President noted, Chevron is an important partner for Kazakhstan.

“Kazakhstan and Chevron are big friends. Our cooperation is mutually beneficial. Your company could be a role model for other contractors. Kazakhstan is experiencing uneasy period today. Earlier, we had high prices for crude materials. Now we have to learn to live with new prices and big outputs,” N.Nazarbayev said.

The Head of State noted that over the years of its presence in Kazakhstan, Chevron has paid 113 bln U.S. dollars to the country’s budget. The company implements a number of large-scale projects aimed at improvement of social infrastructure.

“85% of employees of Tengizchevroil are Kazakhstanis. 73% of the seniour staff are also Kazakhstani nationals. This is a good example for other investors,” the President stressed.

In turn, John Watson thanked the Kazakh Leader for maintaining favorable investment climate in the country and his attitude to the development of the sector.

“I know that you give special attention to the environmental protection and industrial security issues. Our enterprise is one of the best in the world as per these indicators. This year, we plan to overhaul our facilities at Tengiz which will let us eliminate sulfur emissions to the environment,” noted he.

Watson added that local content increase will remain a priority for the company’s activity which presently makes 20 bln U.S. dollars.