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Press Release 20.11.2003 |  | |
Joint News release
For immediate release
November 20, 2003
Vladimir Bouianov (CPC)
Natalia Baidan (KalmTEK)
November 20, 2003, Moscow –
The Caspian Pipeline Consortium (CPC) and the state investment company KalmTEK have signed an oil transportation agreement that exercises Russian Federation access rights to CPC. KalmTEK will ship Russian origin crude.
“Currently up to 300,000 tons of oil per year can be pumped by CPC from Kalmykia,” said CPC General Director Ian MacDonald. “This volume can be doubled if CPC shareholders agree to further expand the pipeline system capability.”
“We plan to start pumping oil as soon as June 1, 2004, - said Kiryll Kruglyansky, special representative of the President of Republic of Kalmykia for cooperation with CPC-R and federal authorities. – By that time the pumping capacity of the interconnection pipeline in Kalmykia will reach 716,000 tons per year.”
Presently there is one pump station in Kalmykia – in Komsomolsky. After all phases of the pipeline have been completed and the maximum throughput for the CPC pipeline system has reached 67 million tons per year, 10 new pump stations will be constructed, including two in Kalmykia.
Currently CPC is transporting the crude of six shippers in Kazakhstan. CPC pumps more than 1.3 million tons of crude oil per month.
Since the beginning of operations, CPC has shipped 25 million 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%.
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