KAZAKHSTAN AND CHEVRON HAVE AGREED TO INVEST $130 MILLION.

Kazakhstan's national oil company KazMunayGas and the American oil company Chevron have signed a $130 million investment agreement, the KazMunayGas press office reported.

The document was signed in the United States during Kazakh President Kassym-Jomart Tokayev's working visit to New York. The agreement was signed by KazMunayGas Chairman of the Board of Directors Askhat Khasenov and Chevron President for Eurasia Derek Magness. "Under the agreement, the companies will focus on strategic collaboration in priority areas, including local content development, technology integration, and personnel development," the statement reads.

Chevron holds stakes in Kazakhstan's largest oil and gas fields and is a member of the Caspian Pipeline Consortium, a system that transports oil through Russia to global markets. Tokayev has already held talks with Chevron Chairman Michael Wirth in the United States, discussing, among other things, supply diversification through the Trans-Caspian International Transport Route.