CÔNG TY TNHH Offshore and Industrial services (23/gp-bv)

Offshore and Industrial services limited

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2.0  Kazakhstan, Vietnam Reach Crucial Deals to Bolster Cooperation (21 August 2023)

 

ASTANA – Kazakhstan and Vietnam reached significant agreements to strengthen relations and cooperation across multiple sectors, President Kassym-Jomart Tokayev said at an Aug. 21 meeting with Prime Minister of Vietnam Phạm Minh Chính.

 

Kassym-Jomart Tokayev with Prime Minister of Vietnam Phạm Minh Chính.          

 

The meeting focused on the productive discussions Tokayev held earlier with Vietnam’s President Võ Văn Thưởng during his official visit, addressing key areas of bilateral cooperation.

 

Tokayev said the intergovernmental joint action plan for the accelerated development of trade and economic cooperation inked today would enhance cooperation in trade, investment, technology, agriculture, transit, and tourism.

 

Highlighting a fresh impetus given by Tokayev’s visit to bilateral cooperation, Vietnam’s Prime Minister echoed that the signed documents between the two countries create a strong foundation for future interaction.

 

President Tokayev with PetroVietnam Chairman Hoàng Quốc Vượng.

 

He expressed interest in discussing ways to strengthen and deepen relations in the political, diplomatic, investment, and trade spheres.

 

Tokayev stated he is determined to support the presence of Vietnamese businesses in the Kazakh market. He noted that their activities in Kazakhstan will be facilitated, demonstrating Kazakhstan’s sincere interest in fostering long-term business relationships with Vietnam.

 

Tokayev also met with Hoàng Quốc Vượng, the chairman of Petrovietnam, a major player in the Southeast Asian oil and gas industry with consolidated assets valued at $40 billion.

 

Encompassing the energy sector and petrochemical industry, the President highlighted the possibility of offering tax and customs preferences to investors interested in implementing oil and gas processing and geological exploration projects.

 

Vượng informed Tokayev about the projects that Petrovietnam is currently supporting in the energy and petrochemical sectors.

 

In the first half of 2023, the trade volume between Kazakhstan and Vietnam increased 3.5-fold to $610.9 million, with exports rising to $117.7 million and imports – to $494.2 million, according to the data from the Economic Research Institute.

 

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CHEVRON CORP. AFFILIATE TENGIZCHEVROIL STARTED OIL PRODUCTION AT ITS FUTURE GROWTH PROJECT AT TENGIZ OIL FIELD IN WESTERN KAZAKHSTAN.

 

Jan. 25, 2025

Chevron Corp. affiliate Tengizchevroil LLP (TCO) started oil production at its Future Growth Project (FGP) at Tengiz oil field in western Kazakhstan.

 

FGP is the third processing plant in operation at Tengiz field, which expands sour gas injection capability and is expected to ramp up output to 1 MMboe/d. Oil production at FGP follows completion of the wellhead pressure management project (WPMP) in 2024, which is designed to optimize the field and processing plants, the operator said.

 

The FGP and WPMP projects together installed power systems at Tengiz with five Frame 9 gas turbine generators, added four large compression trains with additional pumping capacity, installed a new centralized control center and enhanced sour gas handling and reinjection to the field for long-term pressure maintenance.

Tengiz ranks as the world’s deepest producing supergiant oil field and the largest single-trap producing reservoir in existence. The FGP expansion aims to increase crude oil production by 260,000 b/d at full capacity.

 

TCO is a Kazakhstani partnership owned by Chevron Corp., KazMunayGas, ExxonMobil Corp.

Chevron, partners finalize $37-billion investment for Tengiz oil field.

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As of 2025,

 Vietnam and Kazakhstan are expected to see a growing trade relationship, with a focus on Kazakhstan exporting commodities like oil and minerals to Vietnam, while Vietnam exports manufactured goods like electronics and apparel in return; this growth is likely fueled by the existing trade agreement between Vietnam and the Eurasian Economic Union (EEU), which includes Kazakhstan, leading to increased trade volume and potential for further economic cooperation between the two countries.

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