The 32nd Plenary Session of the Foreign Investors' Council chaired by the President of the Republic of Kazakhstan was held on July 4, 2019, in Nur-Sultan.

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Chevron in Kazakhstan

Chevron Corporation, based in San Ramon, California is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry including exploring for, producing and transporting crude oil and natural gas; refining, marketing and distributing transportation fuels and lubricants; manufacturing and selling petrochemical products; generating power and producing geothermal energy; providing energy efficiency solutions; and developing the energy resources of the future, including biofuels.

With the formation of the Tengizchevroil (TCO) Joint Venture partnership in 1993, Chevron became the first major Western oil company to enter the newly independent Kazakhstan. Over the past 19 years, Chevron and the Republic of Kazakhstan have worked in partnership to develop the country’s long term energy potential. From 1993 through 2011, Chevron made direct investments of over $33.2 billion into the Kazakhstan’s economy, including capital investments and operational expenses.

Chevron has a 50% interest in TCO where total production has grown from approximately 1 million tonnes (8 million barrels) of crude oil per year in 1993 to 25.8 million tonnes (206.2 million barrels) in 2011. TCO’s total daily production capacity is 75,000 tonnes (600,000 barrels) of crude oil and 22 million cubic meters (750 mscf) of natural gas. TCO sold 3.8 million metric tonnes of sulfur in 2011, which was 169 percent of the 2.3 million tonnes produced. This volume contributed to sulfur inventory in Tengiz being reduced to under four million tonnes in early 2012 and helped position Kazakhstan as one of the world’s leading sulfur providers.

From 1993 through 2011, TCO made direct financial payments of about $60.1 billion into Kazakhstan’s economy, including Kazakhstani employees’ salaries, purchases of Kazakhstani goods and services, tariffs and fees paid to state-owned companies, profit distributions to Kazakhstani shareholders and taxes and royalties paid to the Government.

Chevron also holds a 20% equity stake in the Karachaganak field, one of the world's largest oil and gas condensate reserves. Total daily production during 2011 averaged about 11 million tons of liquids (234,000 barrels daily) and 8.9 million cubic meters of natural gas.

Chevron is the largest private shareholder (15%) in the Caspian Pipeline Consortium (CPC) which operates a 1,505 km crude oil export pipeline from the Tengiz field to Novorossiysk port. In December 2010, CPC partners made a final investment decision to nearly double the pipeline capacity at a total estimated project cost of $5.4 billion. In July 2011, the ground breaking ceremony in Atyrau marked the start of the construction phase of the CPC expansion.

The Atyrau Polyethylene Pipe Plant is an excellent example of Chevron’s long-term commitment to the diversification of Kazakhstan’s economy. The plant began operations in April 2003 and currently has the production capacity of 15,000 tons of polyethylene pipes per year. In 2011, the plant began production of metal-plastic pipe. Chevron also started construction of a gate valve plant to produce valves used in water supply and natural gas transportation.

Chevron develops energy with a commitment to protecting the safety and health of people, and safeguarding the environment. Since 2000, TCO has invested more than $2.34 billion on projects to minimize environmental impact, and has reduced natural gas flaring volumes by 94%.

Chevron is committed to Kazakhstan’s efforts to increase the use of Kazakhstani goods and services and is supporting local content development through its affiliates at TCO and KPO. TCO has invested $11.3 billion on Kazakhstani goods and services since 1993 including $1.6 billion in 2011. In KPO, implementation of the local vendor development program has enabled the company to work with a large number of national companies. Since 1997, KPO has procured goods and services worth more than $4 billion from Kazakhstani companies.

Tengizchevroil focuses on building the capabilities of its employees and contractors. Since 1993, the percentage of Kazakhstani citizens employed at TCO has grown from 50% to 86% of the workforce. Kazakhstan managers and supervisors represent 76% of TCO managerial workforce. Professional development is important for KPO as well. Local employees filled all the skilled and clerical positions with 91% of the professional and supervisory roles and 62% of the managerial positions.

Chevron’s community engagement programs are strategic investments in building strong communities. For example, from 1993 to 2011, TCO has invested more than $700 million to fund social projects for the community and employees in Atyrau Region.

Chevron is proud of its successes based on its strong partnerships with government and the people of Kazakhstan.

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