UPDATE 2-Chevron gets Kazakh blessing over oil project
(Writes through with Chevron, Eni, Kazakh economy minister)
By Maria Golovnina
ALMATY, Sept 21 (Reuters) - Chevron (CVX.N) secured crucial backing from the Kazakh president over its huge Tengiz oil project on Friday, but foreign investors remained wary as a row over another major Western oil project remained unsolved.
Chevron CEO Dave O'Reilly flew to Kazakhstan on Friday for talks with President Nursultan Nazarbayev, a day after a Kazakh parliamentarian urged the government to halt Chevron's venture developing the Tengiz oil deposit due to ecological violations.
O'Reilly quoted Nazarbayev as telling him that "Tengiz is an excellent example of how the government and a foreign investor can work together successfully", according to the Kazakhstan Today news agency.
"Today during our meeting both the president of Kazakhstan and the prime minister expressed support for our company's activities," he said.
Kazakhstan's recent assertiveness in its dealings with foreign oil companies has alarmed investors, jittery in the wake of the government's row with an Eni-led consortium developing another huge Caspian Sea deposit, Kashagan.
Kazakh officials suspended Kashagan operations last month, also accusing it of environmental breaches.
Kazakhstan says Kashagan is an isolated case stemming from the project's continuous start-up delays and cost overruns, and denies it is part of a wider campaign against foreign investors. Continued...

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