Chevron-Led Kazakh Venture May Borrow For $37B Project

Reuters

ASTANA, May 26 (Reuters) - Tengizchevroil, a Chevron-led joint venture and Kazakhstan's No.1 oil producer, may take out loans and issue bonds to finance its $37 billion expansion project, a senior official of Kazakh state oil firm KazMunayGaz said on Thursday.

"There are different scenarios, but we think the full (cost of the project will be financed by borrowing)," KazMunayGaz deputy chief executive Daniyar Berlibayev told reporters.

(Reporting by Mariya Gordeyeva; Writing by Olzhas Auyezov; Editing by Alexander Winning)

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