CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

CPC General Director and Atyrau Region Akim had a working meeting

CPC General Director Nikolay Gorban and Atyrau Region Akim Makhambet Dosmakhabetov had a working meeting in the Atyrau Region Akim’s office on 8 December 2020.

The parties discussed CPC-K’s business plans, including health, safety, and environment and the pipeline system’s operational reliability.

The region’s head highlighted at the meeting that the Consortium was one of the region’s strategic partners, involved not only in developing the oil & gas industry, but also addressing many of the region’s social tasks.

Social projects are being implemented under a Mutual Cooperation Agreement signed between CPC-K and the Atyrau Region Akim’s office.

In total, CPC-K has invested about 11 billion tenges into various major charity projects and programs since starting its operations in the Atyrau Region in 2000. In 2020, the consortium has allocated about 1.5 billion tenges, including funds to finance measures against the COVVI-19 pandemic.

CPC General Director informed the akim that the Consortium would continue to provide charity aid to the region in spite of the volatility of the global economy, including the oil and gas sector, in 2021.

For reference.

The CPC pipeline system is one of the largest investment projects with foreign capital in the energy sector in the CIS. The length of Tengiz-Novorossiysk pipeline is 1,511 km; more than two thirds of all export crude oil from Kazakhstan and crude oil from the Russian fields, including those in the Caspian Region, are transported by this route. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also in poor weather conditions.

CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7%) – 31%; Republic of Kazakhstan (represented by Kazmunaygaz – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%; Chevron Caspian Pipeline Consortium Company - 15%, LUKARCO B.V. - 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Limited – 7.5%, BG Overseas Holding Limited - 2%, Eni International N.A. N.V. - 2% and Oryx Caspian Pipeline LLC – 1.75%.