A meeting of the CPC-R Board of Directors and an extraordinary general meeting of the CPC-K Shareholders were held on 1-2 October 2019 in Bucharest.
CPC General Director Nikolay Gorban made a report on the Consortium current business, including industrial, environment safety and occupational health issues. The Shareholders discussed crude oil movement and financial indicators.
Besides, the members of the CPC governing bodies exchanged views on the Consortium Safety Day held in mid-September 2019 in the Republic of Kalmykia. This large-scale event, demonstrating commitment of the international company to achievement of ambitious HSE goals, was attended by more than 600 representatives of the leading world oil/gas companies - PАО Transneft, АО NК KazMunaiGaz, Chevron, Eni, АО KazTransOil, Shell and others.
From the beginning of 2019 till 1 September, the Consortium staff, including contractors, worked more than 8.3 million hours without days-away-from-work incidents. Over the same period, the CPC motor pool covered about 16 million km without MVA.
From 1 January till 1 October 2019, the Consortium Marine Terminal shipped about 46.5 million tons of crude oil and loaded 437 tankers.
All in all, from 2001 till 30 September 2019 inclusive, the Tengiz – Novorossiysk oil pipeline system moved to the world markets 629 071 979 net tons of crude oil, out of them 547 982 059 tons – crude oil from Kazakhstan and 81 089 920 tons – crude oil produced in Russia.
The Shareholders also discussed the CPC Debottlenecking Program implementation which is to ensure the Tengiz – Novorossiysk oil pipeline system throughput up to almost 80 million tons per annum by 2022.
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%.