On September 26, 2018 CPC General Director Nikolay Gorban and Tim Miller, Managing Director of Chevron Corporation Eurasian Division met in Almaty. The meeting was also attended by Kairgeldy Kabyldin, Deputy General Director, RoK Government Relations.
Managing Director of Chevron Corporation Eurasian Division spoke in praise of the CPC operating, as well as HSE achievements. It was noted that successful completion of the CPC pipeline system expansion project provided Kazakhstan oil producers with extra capacities for transport of oil for export. In January - August 2018 alone, the Tengiz - Novorossiysk Pipeline moved nearly 35.8 MMT of Kazakhstan production. The parties also discussed the prospects of further CPC Pipeline System expansion in the context of the forthcoming oil production increase in the Republic.
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.
The Expansion Project includes rehabilitation of 5 existing and construction of 10 additional pump stations (2 in the Republic of Kazakhstan and 8 in the Russian Federation), six new storage tanks (100,000 cu.m each) in addition to the existing four near Novorossiysk and a third SPM at the CPC Marine Terminal, and also the replacement of an 88 km pipeline section in Kazakhstan with a larger diameter pipe. The total amount of the Project investments will be US$ 5.4 billion.
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%.