Friday, December 8, 2023

Multinational companies, Tokayev discuss investment in Kazakhstan

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Multinational companies and the Kazakh government have discussed the implementation of joint investment projects in Kazakhstan.

On the eve of the 34th meeting of the Foreign Investors Council under the President of Kazakhstan, Kassym-Jomart Tokayev held on June 8 separate meetings with James Johnson, Executive Vice President of Chevron Corporation, Neil Chapman, Senior Vice President of Exxon Mobil Corporation, and Honorary Consuls of Kazakhstan in Canada – Tim Gitzel, President and CEO of Cameco and Don Streu, President and CEO of Condor Petroleum.

During the conversation with James Johnson, Tokayev was informed about the results of the corporation’s work in our country and plans for the coming period. In particular, they discussed the issues of nearing completion of the Tengiz Future Growth Project.

The two also reviewed the prospects of expansion of the production capacity at the Kashagan field, as well as Chevron’s Direct Investment Fund activities aimed at supporting the localization of production and environmental protection in Kazakhstan.

Chapman told Tokayev about the progress of construction of a gas processing plant at Karachaganak field, the possibilities of redirecting export volumes of gas from the Tengiz field to the domestic market and the transportation of Kazakh oil through alternative routes.

In a conversation with Gitzel and Streu, the implementation of joint investment projects in Kazakhstan was discussed. In particular, Cameco’s President told the Head of State about the activities and further plans of the uranium company in our country. Condor Petroleum’s CEO informed about the plans for the construction of modular LNG plants in Kazakhstan. The prospects for the development of Kazakh-Canadian cooperation within the Kazakhstan-Canada Business Council were also touched upon at this meeting.

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