09.06.2009, 12:38 2693

Nazarbayev, Chevron CEO discussed investment plans of corporation in Kazakhstan

The head of the state, Nursultan Nazarbayev, met the chairman of the Board of Directors - CEO of Chevron Corporation, David J. O'Reilly, the agency reports citing the president's press service.

Astana. June 9. Kazakhstan Today - The head of the state, Nursultan Nazarbayev, met the chairman of the Board of Directors - CEO of Chevron Corporation, David J. O'Reilly, the agency reports citing the president's press service.

According to the press service, Chevron Corporation CEO informed the President of the results of the work of the joint venture TengizChevroil, which plans to increase volume of oil extraction up to 24 million tons a year.

At the meeting, the officials discussed the investment plans of the corporation in Kazakhstan, in particular, expansion of Atyrau Polyethylene Pipe Plant and Construction of the Armature Plant.

"The joint venture has invested into the economy of Kazakhstan about $30 billion since 1993: Chevron "during this period has earned about $3 billion. This demonstrates that this is a good contract that works successfully," David J. O'Reilly said.

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