- TCO signed contracts worth over $10.5 million with three Kazakhstani companies.
- The contracts were signed at the XII Forum of Machine Builders of Kazakhstan.
- In 2024, TCO's purchases from local machine builders reached 43%.
- Since 1993, TCO has spent about $50.5 billion on Kazakhstani goods and services.
Contract Details
Tengizchevroil LLP (TCO) signed four contracts with three Kazakhstani companies for equipment supply, valued at over $10.5 million. These agreements were finalized during the XII Forum of Machine Builders of Kazakhstan.
Forum Highlights
The forum, which TCO sponsored, gathered over 1,500 participants from 20 countries. It serves as a platform for Kazakhstani companies to enhance competitiveness and forge connections with major clients.
Local Content Development
In 2024, the machine-building industry in Kazakhstan saw a 10% production increase. TCO's purchases from local machine builders accounted for 43% over the past five years, reflecting a focus on developing Kazakhstani content in investment projects.
Equipment and Suppliers
The contracts support operations at the Tengiz field, with equipment used for maintenance and routine tasks. AtyrauNefteMash LLP will produce a Klaus combustion chamber, Sewon-Vertex HeavyIndustry LLP a burner barrel and oxidizer vessel, and Honeywell Automation Controls System LLP a cabinet cluster. Honeywell's agreement is part of a trilateral memorandum with TCO and the International Machine Builders Center.
Investment Impact
Since 1993, TCO has invested approximately $50.5 billion in goods and services from Kazakhstani suppliers, with $3 billion spent in 2024 alone, underscoring the significant economic impact of local procurement.
