Chevron Approves $36.8 Billion Tengiz Field Expansion Project
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+32° / +21°C WEDNESDAY, JULY 13, 2016 No 13 (103) www.astanatimes.com Astana Celebrates 18th Birthday with President a Week of Arts, Sport, Craft Shows Congratulates Nation on Winning Seat on UN Security Council the world has faced an unprec- By Arnur Aubakirov edented scale of new security threats. We will make a signifi- ASTANA – President Nursul- cant contribution to finding so- tan Nazarbayev called Kazakh- lutions to global problems. Sta- stan’s election as non-permanent bility and security in the world member of the UN Security – that’s what we want for all our Council for 2017-2018 a “historic citizens,” Nazarbayev said in his achievement.” televised statement on June 29. “Kazakhstan’s election as a He also underlined that this is non-permanent member of the why Kazakhstan would take ad- UN Security Council is a his- vantage of its chance to make the toric achievement. This is not future more confident and pros- only our country’s success but perous for all. that of the entire sub region of “We intend to draw the global Central Asia, which had never community’s attention on our been represented in the body re- initiatives. They aim to build a sponsible for international peace world free from nuclear weapons and security. Kazakhstan was and from the virus of war and elected a member of the UN Se- conflicts. Kazakhstan will work curity Council for the next two to achieve this noble goal for the years. It will be a difficult period centenary of the United Nations in international relations and it in 2045. can be seen nowadays. In addi- tion to long-standing conflicts, Continued on Page A3 Chevron Approves By Zhazira Dyussembekova “A capital reflects the life of a people in Kazakhstan on the holi- The spirit of Astana weaves to- particular state, concentrating eve- day and wishes them success, hap- gether ancient traditions; the wis- ASTANA – This year, the capi- rything that is best in any country. piness and well-being. dom and creativity of the people; The capital is the backbone of eve- “The founding of the new capital $36.8 billion tal of Kazakhstan celebrated its the past, present and future of Ka- 18th birthday. The official holiday ry nation. Astana has become that is a golden page in the entire his- zakhstan. Our capital is like a mir- is July 6, but the city celebrated metropolis in Kazakhstan,” said tory of the independence of our ror reflecting the dramatic changes for more than a week. Guests and Kazakh President Nursultan Naz- Motherland. Astana for us is an in- that have occurred in our state, Tengiz Field residents could join the party by arbayev during a July 5 reception spiring symbol of unity, solidarity, economy and society during the attending any of the numerous dedicated to the Day of Capital, faith in our own strength, incred- years of independence,” he added. events throughout the city. adding that he congratulates all the ible opportunities for our people. Continued on Page B8 Expansion Project By Kamila Zhumabayeva son, according to a July 5 Chevron legal status of the Caspian Sea press release. was used as an official document ASTANA – A group of oil com- Tengizchevroil (TCO) began of the United Nations (UN) in panies led by Chevron have ap- exploring expansion under a new Five Caspian Foreign Ministers 1997 and to date remains consist- proved a $36.8 billion plan to boost Future Growth Project (FGP) in ent and unchanged. production at Kazakhstan’s Tengiz 2012 and the Tengiz expansion is Kazakhstan’s approach is based oil field, the largest oil field in the the biggest final investment deci- on the need to establish the territo- world, Reuters.com reports. The sion in the oil industry this year, Meet in Astana rial waters, fishing zones and com- field already accounts for more than the Chevron press release and Re- By Malika Orazgaliyeva ing Elmar Mammadyarov of Azer- the early 1990s, when the issue mon water space in the Caspian a third of Kazakhstan’s total crude uters.com state. baijan, Mohammad Javad Zarif of arose following the collapse of Sea in accordance with the provi- output. The first oil as a result of The project’s cost breaks down ASTANA – The foreign minis- Iran, Sergey Lavrov of Russia and the Soviet Union and the appear- sions of the 1982 United Nations new expansion is expected in 2022. to $27.1 billion for facilities, $3.5 ters of five Caspian Sea states are Deputy Chairman of the Cabinet ance of four new states on its Convention on the Law of the Sea “The Future Growth and Well- billion for wells and $6.2 billion set to meet in Astana July 13 to of Ministers and Foreign Minister shores. During the negotiation to ensure the political and econom- head Pressure Management Pro- for contingency and escalation. discuss the draft Convention on the of Turkmenistan Rashid Meredov. process, Kazakhstan has fol- ic interests of the littoral countries. ject (FGP-WPMP) represents an Tengizchevroil General Direc- Legal Status of the Caspian Sea and Kazakh Foreign Minister Erlan Id- lowed a compromise approach Concerning delimitation of the excellent opportunity for the com- tor Ted Etchison said the project preparations for the fifth Caspian rissov is to host the meeting. that takes into account the inter- Caspian Sea bottom, Kazakh- pany. The project builds on a re- would be financed by a combina- stan adheres to the position that it Summit to be held in Kazakhstan. Azerbaijan, Iran, Kazakhstan, ests of all riparian countries, ac- cord of strong performance at Ten- tion of funds from the company, should be divided among the litto- The Caspian Summit is to be at- Russia and Turkmenistan have cording to its foreign ministry. giz and will add value for Chevron contributions from partners and ral states on the areas within which tended by the foreign ministers of been negotiating the legal status For this reason, Kazakhstan’s po- and its stockholders,” said Chev- borrowing, Reuters writes. they have the sovereign right to ron Chairman and CEO John Wat- Continued on Page A5 the Caspian littoral states, includ- of the inland body of water since sition on the main aspects of the conduct exploration and develop- ment of the natural resources of the Caspian shelf. Earlier, Idrissov suggested it would be advantageous to carry out delimitation of the Caspian Fitch Ratings Sea in accordance with existing in- ternational methods and practices based on the agreement of neigh- bouring states, taking into account Affirms KazMunay generally-recognised norms of in- ternational law. On July 12, Idrissov held bi- lateral talks with Lavrov. They Gas at ‘BBB’ with discussed Kazakh-Russian coop- eration in the political, trade, eco- nomic, cultural and humanitarian spheres. Stable Outlook The ministers paid particular at- By Zhazira Dyussembekova programme in 2015, the state will tention to the interaction between over the medium term run NC the two countries in the interna- ASTANA – International rating KMG with a financial profile that tional arena in the framework of agency Fitch Ratings has affirmed gives it some standalone resilience Kazakhstan’s election to a non- National Company KazMu- to shocks,” the Fitch Ratings press permanent seat on the United Na- nayGas’s (NC KMG) Long-Term release stated. tions Security Council (UNSC) for Foreign-Currency Issuer Default Fitch stressed that the rating 2017-2018. Rating (IDR) at ‘BBB’ with a Sta- approach is mainly based on the In this context, Idrissov and Lav- ble Outlook, according to a June expectation that Kazakhstan “will rov discussed global and regional 30 press release. provide sufficient and timely tan- issues of mutual interest. The two “We rate National Company gible support to the group when also discussed cooperation within KazMunayGas on a top-down needed,” adding that “the absence international organisations and in- basis one notch below Kazakh- of an explicit state guarantee for tegration associations. stan (BBB/Stable), reflecting its a significant portion of KazMu- The Kazakh Foreign Ministry strong links to the Kazakh state. nayGas’s debt prevents full rating categorised the meeting as con- The support factored into this rat- alignment between Kazakhstan structive and reaffirming the stra- ing includes an expectation that, and NC KMG, despite their strong tegic and allied nature of Kazakh- in addition to the funds provided strategic and operational links.” Russian relations. for the company’s debt reduction Continued on Page A5 INsiDE NATION ECONOMY&BUSINESS EDITORIALS OPINIONS NATION&CAPITAL Nazarbayev Visits Numerous Astana Facilities, Kazakhstan to Expand Export of Cars Kazakhstan Celebrates Historic Moment ABDUKALIKOVA: Astana Is Flagship of Golovkin to Fight Briton Kell Brook in Launches New Projects A2 to Russia, Central Asia A4 as UNSC Seat Secured A6 Kazakhstan’s Green Future A7 London September 10 B1 Parliament Addresses Financial Sector, New Local Plant Produces Pipes to Last Decision by Chevron, Partners to Expand SARYBAY: Seven Stars Kazakhstan’s Caspian Coastline Offers Citizens’ Issues A2 Forever A5 Tengiz Is Sign of Hope for Oil Industry A6 of Kanat Saudabayev A7 Various Vacation Options B6 US$ 1 = 337.71 KZT 1 Euro = 372.56 KZT 1 Rouble = 5.26 KZT A2 NATION WEDNESDAY, JULY 13, 2016 NATIONAL Nazarbayev Visits Numerous Astana Facilities, NEWS IN BRIEF The Ministry of Education and Science is planning to update Kazakh language textbooks, ac- Launches New Projects cording to its press service. Ka- zakh will be taught on the ba- sis of foreign language and the system will have several levels, from basic to advanced. The new methodology, tested as a pilot project in 40 national secondary schools, will be introduced in all schools in September.