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BECHTEL AWARDED PROJECT SERVICES CONTRACT TO HELP DEVELOP GIANT OIL FIELDS IN KAZAKHSTAN

 TENGIZ, Kazakhstan, July 28 /PRNewswire/ -- Tengizchevroil, a 50-50 joint venture of Chevron Overseas Co. and Tengizneftegaz, has awarded Bechtel a three-year contract to participate in an integrated management team that will oversee the initial capital construction activities of Kazakhstan's Tengiz and Korolev oil fields on the northeastern coast of the Caspian Sea. Tengizneftegaz is a subsidiary of Kazakhstanmunaigaz, the Kazakhstan national oil company.
 Together, the fields contain an estimated 6 to 9 billion barrels of recoverable oil. "The development project will be geared toward peak production of more than 700,000 barrels of oil per day by 2010," said Richard H. Matzke, president of Chevron Overseas Petroleum Inc., a wholly owned subsidiary of Chevron Corp. (NYSE: CHV). The fields now produce 65,000 barrels of oil per day.
 Bechtel's scope of work as a member of the capital projects team includes the initial activities necessary to support the $20 billion undertaking.
 "We look forward to playing a key role in this project, which marks the largest joint venture ever between Kazakhstan and a major multinational oil company," said Jay Belote, president of Bechtel Petroleum, Chemical & Industrial Co.
 Initially, Bechtel will concentrate on materials management, cost and schedule control, budget preparation, logistics planning, and the supervision of contractors in design offices and in the field. The work will be performed in Kazakhstan and in various European locations, all supported by Bechtel's London office and by its International Construction Co.
 -0- 7/28/93
 /CONTACT: Larry Miller of Bechtel, 415-768-6144; or Laurie Sachtleben of Chevron, 415-894-6285/
 (CHV)


CO: Bechtel; Chevron Corp.; Chevron Overseas Co.; Tengizchevroil;
 Tengizneftegaz; Bechtel Petroleum, Chemical & Industrial Co. ST: California IN: OIL CST SU: CON


TM-MC -- SF012 -- 6782 07/28/93 13:52 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
Words:285
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