Nikolay Gorban, CPC General Director, and Eimer Bonner, Tengizchevroil (TCO) General Director, had a meeting on 8 December 2020.
The heads of the two companies discussed cooperation in hydrocarbon transportation and preliminary 2020 results. As a reminder, TCO is one of the Consortium’s major shippers. Thus, the CPC Marine Terminal loaded over 4.7 million tons of crude oil in November 2020, including 2 million tons from the Tengiz field.
According to the Consortium’s head, CPC has now moved into an active phase of executing the Debottlenecking Program (DBN), which will allow the Tengiz-Novorossiysk oil pipeline’s throughput capacity to be increased up to 80 million tons per annum by 2023.
In her turn, Eimer Bonner spoke about TCO’s operational performance and plans. According to her, the completion of the wellhead pressure management project at the Tengiz field will result in an oil production increase by 12 million tons by the end of 2022.
In the course of the meeting, the parties highlighted the high level of cooperation set up between the two companies and coordination of efforts in terms of measures to fight the COVID-19 pandemics.
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%.