How Kazakhstan Aims to Tap More Oil Riches Below Its Grassy Plains
The New York Times••world
Key Points:
- The Tengiz oil field in western Kazakhstan, formed from ancient marine life skeletons, has been a major oil producer for over 30 years, significantly supporting Kazakhstan's economy.
- Chevron owns 50% of Tengizchevroil (TCO), the company operating Tengiz, benefiting substantially from the field's output and maintaining strategic ties between Kazakhstan and the U.S.
- Chevron and Exxon Mobil's involvement in Kazakhstan's oil projects creates important geopolitical connections, especially given Kazakhstan's extensive border with Russia.
- Recent Ukrainian attacks on the main oil export pipeline through Russia, which carries Tengiz oil, aim to reduce Moscow's energy revenues, posing challenges for Kazakhstan's exports.
- Chevron and the Kazakhstan government face potentially difficult negotiations
