TENGIZCHEVROIL HOLDS KAZAKHSTANI SUPPLIERS FORUM FOR THE TENGIZ FIELD FUTURE GROWTH PROJECT
Tengizchevroil LLP (TCO) today hosted a Suppliers Forum to provide Kazakhstani suppliers of goods and services information on TCO’s Future Growth Project-Wellhead Pressure Management Project (FGP-WPMP), the next major expansion of Tengiz.
Attending the Forum were Republic of Kazakhstan (RoK) Deputy Prime Minister – Minister of Industry and New Technologies Mr. Issekeshev A.O., Minister of Oil and Gas Mr. Karabalin U. S., and also representatives of RoK Ministry of Industry and New Technologies, Ministry of Oil and Gas, Ministry of Economy and Budget Planning, Ministry of Labor and Social Protection of Population and KazMunaiGaz NC JSC, in addition to Kazakhstani industry associations, national agencies, unions and representatives of local and foreign companies.
“As per the instruction of our President, production of goods, works and services for petroleum refining and extraction industry has been determined among key directions of industrial development in the nearest future. One of the ways to achieve this goal is creation of new joint ventures with foreign companies within the framework of the Future Growth Project at Tengiz field. This will help not only increase Kazakhstani content but will also attract foreign investments,” said Deputy Prime Minister — Minister of Industry and New Technologies Mr. Issekeshev A.O. in his remarks to the Forum. “Our President has emphasized several times the necessity for transnational companies to support and proactively participate in industrial and innovative policy being implemented in Kazakhstan. This initiative of one of the biggest operators in Kazakhstan to increase production at the project with maximum attraction of local business aligns with our President’s instruction,” said Minister of Oil and Gas Mr. Karabalin U.S.
TCO General Director Tim Miller mentioned that one of TCO’s highest goals is to increase the use of Kazakhstani goods and services; which has always been and will continue to be a top priority of the company.
FGP-WPMP is expected to increase Tengiz production by 12 million tonnes per year, raising TCO’s total production to 36 million tonnes per year. TCO has forecast about $7.8 billion in Kazakhstani goods and services for FGP and WPMP. This is about 33% of the project’s projected spending.
The purpose of the Forum was to inform local companies about FGP-WPMP, successful joint ventures between Kazakhstani and foreign companies, and how Kazakhstani suppliers can participate in the Project.