OREANDA-NEWS. November 19, 2013. The Prime Minister of Kazakhstan Serik Akhmetov accepted the acting general director of Tengizshevroil LLP Brad Middleton.

During a meeting prospects of Kazakhstan cooperation are discussed with the Tengizshevroil company, in particular questions of implementation of the Project of the TSO future expansion are considered.

"Today we sign the important Memorandum of understanding which, I think, will give very good impulse to Tengiz field development," Akhmetov said.

As the head of the government considers, the Project of future expansion also will give the chance to creation of new workplaces, development of the industry, the industry and mechanical engineering in Kazakhstan. "The government is ready to cooperation with TSO," the Prime Minister added.

Middleton noted importance of the Memorandum and stated "readiness for its realization".

The memorandum of understanding between Kazakhstan and Tengizshevroil LLP Government about cooperation with the purpose of assistance to investments, training and preparation, and also employment in the country by means of implementation of the Project of future expansion and the Project of management of water pressure was signed by the minister of oil and gas U.Karabalin and the acting general director of TSO B. Middleton.

"We expect that capacity on Tengiz will be increased and oil production will increase from 26 million tons to 38 million tons per year. This significant increase with the corresponding economic benefits for the Republic of Kazakhstan and partners," U.Karabalin said during a briefing.

Besides, the agreement on providing a petrochemical complex under construction in Atyrau by the necessary volume of raw materials at the acceptable prices is reached. 380,000 tons of butane are a question about 550,000 tons of propane.

According to the minister, the Project of the TSO future expansion is at a stage of outline design, his statement is planned for the beginning of 2014.