| |
Press Release February 14, 2007 |  | |
Extraordinary Shareholders’ Meeting of CPC was held
February 14, 2007 – Moscow
Extraordinary General Shareholders’ Meeting of Caspian Pipeline Consortium was held on February 13/14 in Moscow where current Company affairs have been reviewed.
In particular, a resolution was adopted re repair and coating replacement at one of the CPC pipeline segments requiring special attention to operations safety.
The Meeting attendees have also reviewed other measures taken by the Consortium to further advance operations safety, as well as environment protection.
In addition, the Shareholders have discussed the status of agreeing mutually acceptable terms of the CPC System Expansion Project and outlined further steps in this direction.
The Annual Shareholders Meeting was scheduled for the end of March 2007.
The Consortium’s Government shareholders include Russia (24%), Kazakhstan (19%) and Sultanate of Oman (7%). The Consortium’s shares are also held by the following oil companies: Chevron Caspian Pipeline Consortium Co. (15%), LukArco (12.5%), Mobil Caspian Pipeline Co. (7.5%), Rosneft-Shell Caspian Ventures Ltd. (7.5%), Agip International H.B. (2%), BG Overseas Holdings Ltd. (2%) and Kazakhstan Pipeline Ventures LLC (1.75%). Oryx Caspian Pipeline LLC (1.75%)
| | | |
|
|