Tengizchevroil will disburse $360 mln in dividends in 2000

/IRBIS, May 10, 00/ - As REUTERS informs, the Prime-Minister of Kazakhstan Kasymzhomart Tokayev announced on today's press conference that Tengizchevroil will disburse $360 mln of dividends in year 2000. This announcement was proclaimed by the prime-minister during his working trip at Kashagan oil field. "I think that policy pursuit on receiving dividend payments from Tengizchevroil is clear. We do not have any issues in this part of cooperation with Tengizchevroil," said Mr. Tokayev. Tengizchevroil is joint stock company with foreign participation. It includes participation of the government of Kazakhstan (25%), shares of American companies Chevron (45%) and Mobil (25%) and joint Russian-American company LUKARCO. This company develops one of the biggest oil fields Tengiz on the western Kazakh coast of Caspian sea. In 1999, the company increased oil production to 9.6 mln from 8.3 mln tons in 1998. Chevron also participates in CPC with share of 15%. Other members of the consortium are governments of Russia, Oman and Kazakhstan and such companies as Chevron Caspian Pipeline Consortium Company, LUKARCO, Rosneft-Shell Caspian Ventures Ltd, Mobil, Caspian Pipeline Company, Agip International, BG Overseas Holding Ltd, Kazakhstan Pipeline Ventures L.L.C, Oryx Caspian Pipeline L.L.C.