In January CPC lifted over 3 MMT of oil for export

In January 2009 Caspian Pipeline Consortium (CPC) lifted 3.010 thousand tons (23.6 M barrels) of crude oil from its Marine Terminal near Novorossiysk, which is the maximum oil quantity lifted in a calendar month since the commencement of the pipeline operation.

It should be noted that the record was achieved in a winter month with unfavorable weather conditions and it exceeds a similar performance indicator in January 2008 by more than 18%. Meanwhile, all the loading operations were accomplished with the high quality level, as is CPC tradition, with compliance with all environmental and safety requirements.

It is the second month in a row that CPC has been demonstrating record volumes of crude oil lifting. These indicators emphasize the relevance of the sign-off of the MoU on CPC Expansion Principles by CPC Shareholders and Industry Ministries of Russia and Kazakhstan in December, and the importance of augmenting efforts to implement the decisions specified in that document.

The Consortium believes that along with providing for increasing deliveries of Kazakhstan and Russian crude oil to the world markets the implementation of CPC Expansion Project in the world economic crises environment will contribute to reducing the social load in the Regions crossed by the pipeline route due to new jobs, new level of business and orders for work and materials.

CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7 %) – 31 %; Republic of Kazakhstan (KazMunaiGaz) – 19 %; 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%, Kazakhstan Pipeline Ventures LLC - 1,75% and Oryx Caspian Pipeline LLC - 1,75%.