World-famous Chevron Corporation has been one of the largest investors in Kazakhstan in the past 25 years. Over this time, its investments in Kazakhstan’s economy amounted to $123 billion. The head of the American multinational energy corporation summarized the results of the strategic cooperation and shared his plans for the future. John Watson noted that Kazakh President Nursultan Nazarbayev played a key role in success of the projects carried out in the republic. 

JOHN WATSON, CHAIRMAN, EXECUTIVE OFFICER, CHEVRON CORPORATION:

 - President Nazarbayev has been instrumental to our success in Kazakhstan. If I think back 25 years ago, President Nazarbayev had my two time predecessor Kendor took big risks. President Nazarbayev took risks on Chevron and Chevron took risks on a new country, and I think we’ve been very successful by those two individuals getting together and trusting each other to be successful. And the President consistently over the last 25 years has supported Chevron, has supported the work that we do with our partners to make the development at Tengiz and our presence in Kazakhstan.

John Watson spoke about the risks Chevron had faced in the beginning of its work in Kazakhstan in a recent meeting with Nursultan Nazarbayev. The corporation’s executive officer thanked the President for the fruitful partnership and expressed hope in further cooperation. Development of the Tengiz field is one of the breakthrough joint projects. In July 2016, Chevron and its partners announced funding of expanding oil field, where new gas injection technologies will be introduced and a pressure boost system will be installed to maintain production levels. Production is set to start in 2022.   

JOHN WATSON, CHAIRMAN, EXECUTIVE OFFICER, CHEVRON CORPORATION:

 - We think the future is very bright in Kazakhstan. There is no better representation of our confidence in Kazakhstan than our commitment to a new development project to expand the Tengiz field. It’s a $37 billion project that we and our partners have committed to. We think that we will bring many benefits to Kazakhstan in the way of jobs and activity but also it will increase crude oil production, and we think it will be good for Chevron and good for the country. Thanks again to our partners, to President Nazarbayev and the government, and the people of Kazakhstan for their trust and support over the last 25 years and for many years in the future. 

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