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Ted Etchison

General Director, Tengizchevroil

Dear participants of the Forum!

On behalf of ‘Tengizchevroil’ LLP we welcome you to the XI KAZENERGY Eurasian Forum!

This Forum will be held within the International Specialized Exhibition EXPO-2017 ‘Energy of the Future’ and we are sure that it will become one of the key events.

Undoubtedly, the successful development of the energy industry in the Republic of Kazakhstan was made possible through ensuring the safety and health of the workforce, improvements in the environmental sphere, progress in the development of the workforce and the growth of Kazakhstani content. TCO is proud of its contribution to the achievement of these results.

In 2017 TCO marked a significant achievement, producing 3 billion barrels of crude oil since its formation in 1993. On behalf of all employees and TCO Partners we are grateful to the Republic of Kazakhstan for its trust and support in developing Tengiz.

TCO's contribution to the economy of the Republic of Kazakhstan amounted to $121 billion. Investments of previous years and plans for future growth also contribute to the development of Kazakhstani enterprises and the local community. Since its formation TCO has invested more than $22.9 billion on Kazakhstani goods and services and over $1.3 billion to fund social projects and programs in the Atyrau Oblast for the community and employees.

In 2016, TCO Partners announced approval for the final investment decision of the Future growth Project - Wellhead Pressure Management Project (FGP-WPMP), the next major expansion of the Tengiz oil field utilizing advantages of modern technology. Being one of the global energy industry’s largest major capital projects, the FGP-WPMP is anticipated to increase Tengiz crude oil production capacity by approximately 12 million tonnes per year, raising TCO’s total production up to 39 million tonnes of oil per year.

We are optimistic about the growth and development of the industry and are proud that Kazakhstan has achieved excellent results in the oil and gas sector due to the effective interaction of oil and gas companies with Government of the Republic of Kazakhstan. Such cooperation contributes to further development of Kazakhstan's oil and gas industry at a global level.

We wish you a productive and fruitful time, here at the Forum!