| |
Press Release 24.04.2003 |  | |
For immediate release
April 24, 2003
Natalia Prutkovskaya
April 24, 2003 – Moscow –
The Caspian Pipeline Consortium (CPC) and TOO Kazakhoil-Aktobe signed an oil transportation agreement. Under the agreement, TOO Kazakhoil-Aktobe will transport crude from Alibekmola field, using the access rights of a CPC shareholder Kazakhstan Pipeline Ventures LLC.
“This is another important step in moving to CPC’s full initial design capacity by early 2004,” said CPC General Director Ian MacDonald. “Today CPC has concluded five transportation agreements - with TCO, Karachaganak, Arman, EmbaMunaiGaz and Aktobe.”
CPC expects to start pumping oil of TOO Kazakhoil-Aktobe during May. The new shipper plans to transport 25,000 tons per month then increasing to about 50,000 tons per month during the second half of 2003.
Currently CPC is pumping crude from Tengiz and Arman oil fields in Kazakhstan. CPC has transportation agreements with Karachaganak Petroleum Operating B.V., who is an affiliated shipper of several CPC shareholders and will supply crude hydrocarbons from the Karachaganak field, and with TOO Trading House of KazMunaiGaz (a subsidiary of KazMunaiGaz). TOO Trading House of KazMunaiGaz will transport crude oil, produced by OAO Embamunaigaz (another subsidiary of KazMunaiGaz), using the Republic of Kazakhstan’s access rights in CPC.
It is expected that Embamunaigaz’s crude will enter the CPC pipeline in May 2003, and Karachaganak’s crude in mid-2003.
CPC still has the capability to transport 6.5 mm tons from Kropotkin in Russia, once there is an interconnection with CPC.
As of April 22, CPC has shipped 16.1 million tons of oil. Since the beginning of this year, CPC shipped 4.04 millions tons of oil.
The multi-national ownership interest in CPC is as follows: Russian Federation – 24%, The Republic of Kazakhstan – 19%, Sultanate of Oman – 7%, Chevron Caspian Pipeline Consortium Company – 15%, LUKARCO B.V. – 12,5%, Rosneft/Shell Caspian Ventures Limited – 7,5%, Mobil Caspian Pipeline Company – 7,5%, Agip International (N.A.) NV –2%, BG Overseas Holding Limited – 2%, Kazakhstan Pipeline Ventures LLC – 1,75%, and Oryx Caspian Pipeline LLC – 1,75%.
| | | |
|
|