Projects
TENGIZCHEVROIL - A Symbol Of Welfare And Prosperity Of Kazakhstan
History of oil wealth development in Kazakhstan started one hundred twelve years ago, in 1899. Today oil production is a basis of the fast developing economy of Kazakhstan.
Tengiz oilfield is a true national heritage of Kazakhstan.It was discovered in 1979 and was put into operation in 1991. More than 30% of total Kazakhstani oil production volume is produced here. Tengiz oil is produced by Tengizchevroil – major enterprise in the oil and gas sector of the Caspian region. Fruitful work of this world-class company made a great impact on social and economical development both the Atyrau oblast and the Republic of Kazakhstan as a whole.
Project Of The Century. History
April 6, 1993. President of the RoK Nursultan Nazarbayev and Chevron Board Chairman Kenneth Derr signing an agreement to form Tengizchevroil JV.
June 5, 2008. Ceremonial process of President Nursultan Nazarbayev putting into operation TCO’s Second Generation Plant and Sour Gas Injection facilities.On 6 April 1993 there took place a momentous event for Kazakhstan, which declared its state sovereignty. This day the President of the Republic of Kazakhstan Nursultan Nazarbayev and Chairman of the Chevron Oil Corporation Board of Directors (USA) Kenneth Derr signed the Agreement about establishing the Joint Venture Tengizchevroil.
Reputation of the environmental, social and corporate responsible company, having the best solutions, practice of production and processing of crude oil with high H2S content, became a key driver in choosing Chevron as a strategic partner. The President of Kazakhstan called the signed long-term agreement of establishing the Joint Venture as “Contract of the Century”.
This project was and will be remarkable for the entire Kazakhstan in all its aspects. No wonder that the Head of the government Nursultan Nazarbayev, understanding it in those days, paid the careful attention to the project.
Four months after signing the contract, Nursultan Nazarbayev personally visited the construction site of the company to ensure appropriateness of the strategy and work efficiency on reconstructing TCO to oil and gas enterprise in accordance with the western standards.
Hopes of the Head of the country were shared by the Tengizchevroil management.
Creature Of Independence
Kazakhstani employees in TCO represent 85% in comparison with 50% in 1993.Kazakhstani managers and supervisors in TCO form 75% out of total number of
executive staff.
Successful start determined the prosperous activity of the company.
This year, Tengizchevroil celebrated 18th anniversary of the company’s business and 20th anniversary of field oil production start and gas processing plant operation. For TCO, celebration of these dates became one of the important events of the year and remarkable cause for summarizing its work undertaken. They turned out impressive in most various spheres starting from operational and followed by implementation of social and environmental programs.
“Tengiz and Tengizchevroil attend the independence of our country”, Deputy General Director Anuarbek Jakiyev said. Today fast growing economy of our country is a driver of world economical process which all world developed countries count on. In the years of radical and brave reform, the very Tengizchevroil company set an example for oil and other economical sectors, always being in the forefront of transformation. Process of the enterprise establishment is inseparable from the processes of the independent Kazakhstan. We are getting prepared for solemnizing the 20th anniversary of Independence of the Republic of Kazakhstan and we consider the success of oily Tengiz to be a weighty component of the remarkable date of our country”.
After18 years have passed from the date of its formation, Tengizchevroil LLP became the leader of not Kazakhstan’s oil industry only but in all business areas, project scale, products volume and meaning for country’s economy it joined the ranks of the most meaningful and largest enterprises in the Republic of Kazakhstan.
From 1993 through September 2011, TCO’s direct payments to Kazakhstan were $55.8 billion including salaries for local TCO employees, purchase of goods and services of Kazakhstani manufacturers and suppliers, tariffs and payments to the state enterprises, dividends for Kazakhstani partner as well as taxes and royalties paid to the government.
To help the local community Tengizchevroil invested tens of million dollars for sponsorship of socially important projects in the Atyrau oblast.
During its entire activity Tengizchevroil continuously makes efforts including human, technical and financial resources, for building the world-class enterprise, which TCO is today. One of the key elements of TCO’s successful operation was always a close-knit team of the company. TCO’s Kazakhstani Content is over 85%, in comparison with 50% in 1993 – a year of the joint ventureformation. Thanks to the active training and workforce development program TCO successfully promotes national employees by assigning them for positions of increasing responsibility. Today 75% of positions of managers, superintendants, supervisors and engineering personnel are held by Kazakhstani specialists.