A working meeting of CPC General Director Nikolay Gorban and Nurlan Zhanbayev, recently appointed Head of State Revenues Department of Atyrau Oblast, Committee of State Revenues, Ministry of Finance, Republic of Kazakhstan, and his Deputy Zhanybek Nurzhanov was held on January 25th.
Scott McDonald, CPC Finance Consultant, and Kairgeldy Kabyldin, Deputy General Director, RK Government Relations, Caspian Pipeline Consortium-K, also participated in the meeting.
The parties discussed the matters related to CPC-K business taxation in Atyrau Oblast and preliminary financial results of the Consortium’s operation in Kazakhstan in 2017.
At the end of the two-day visit to the Republic of Kazakhstan, Nikolay Gorban conducted a working meeting with CPC-K Eastern Region staff in Atyrau office of Caspian Pipeline Consortium.
The matters pertaining to the labor, fire and environmental safety, reliable operation of CPC pipeline system equipment were reviewed in detail in the course of the meeting. It was pointed out at the meeting that upon the completion of the Expansion Project, the Consortium, as expected, would operate with a high operation factor of the pipeline system equipment.
In addition, General Director discussed with the staff the actions undertaken by CPC Management to improve the materials management at the Consortium’s facilities and to resolve the tasks of social support to CPC employees and their close relatives.
For reference:
The CPC pipeline system is one of the largest investment projects with foreign capital in the energy sector in the CIS. The length of the Tengiz–Novorossiysk Pipeline is 1,511 km; it transports over two thirds of all Kazakhstan export crude, as well as crude from Russian oil fields, including the Caspian Region. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also amid poor weather conditions.
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% and Oryx Caspian Pipeline LLC – 1.75%.