ASTANA – Chevron plans to increase oil production to one million barrels per day in Kazakhstan, Chevron CEO Mike Wirth announced at the CERAWeek conference in Houston, United States, on March 6, reported Kazinform.
According to Wirth, Chevron has been focusing on expanding its activities in Kazakhstan for nearly a decade.
“Chevron was the first large American investor in the country that helped develop the Kazakh energy system for the benefit of the country and Chevron. We are producing 700,000 barrels of oil per day, and we have a project underway to increase this to approximately one million by 2025. This is especially necessary today, because a lot of it [oil] goes to Europe,” added Wirth.
The conference was attended by a Kazakh delegation led by the country’s Energy Minister, Bolat Akchulakov. They discussed global trends in the energy sector, diversification of transport routes, and Kazakhstan’s goal to achieve carbon neutrality by 2060.
The annual CERAWeek energy conference brings together policymakers, thought leaders, and innovators to offer insight into the future of energy and emerging strategies and solutions for the industry.