On December 6, 2016, Caspian Pipeline Consortium and the Atyrau region akim’s office concluded a five-year cooperation agreement. The document was signed by Nikolay Gorban, CPC General Director, and Nurlan Nogayev, Atyrau Region Akim.
The agreement allows to successfully develop cooperation between the parties, strengthen the financial and economic potential and the investment situation in the Atyrau Region, and promotes maintaining social stability and increasing welfare of the region’s population. The consortium will continue to actively implement large-scale social programs in districts crossed by the Tengiz-Novorossiysk mainline oil pipeline and to provide sponsorship and charity assistance.
According to the signed document, steps will be implemented to support education, health care, fitness and sport, culture, ecology, and also to provide targeted assistance to socially-vulnerable segments of the population.
"The amount of sponsorship and charity assistance provided to the Atyrau region under the CPC Expansion Project since 2011 totals 23 million dollars. As for CPC Base Business, it allocates about 2 million dollars annually for financing social projects in the region, and we will be trying to keep it at this level looking forward. I’d also like to comment that all facilities, except one of the schools, are already commissioned in accordance with approved plans", Nikolay Gorban stressed.
In his turn, the region’s akim Nurlan Nogayev expressed gratitude to CPC for its contribution to the development of the social infrastructure in the region.
For reference:
CPC pipeline system is one of the largest investment projects in the energy industry with participation of foreign capital on the CIS territory. The length of the pipeline connecting the oil fields in Western Kazakhstan with the Marine Terminal near Novorossiysk is 1,511 km. CPC Marine Terminal is equipped with single point moorings which allow for safe tanker lifting at a considerable distance from the shore, also when the weather conditions are unfavorable.
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% и Oryx Caspian Pipeline LLC – 1.75%.