A working meeting of Caspian Pipeline Consortium and Chevron Corporation Officers took place on June 6, 2019. Negotiations were held within the Petersburg International Economic Forum (PIEF-2019).
CPC was represented at the meeting by CPC General Director Nikolay Gorban, Kenneth Yoss, First Deputy General Director, Vladimir Shmakov, General Manager, Field Operations, Ruediger Zimmermann, Consultant, Finance. Chevron Corporation was represented by Vice Presidents Jay Pryor and Bob DastMalchi, Andrew McGrahan, CPC-R Board of Directors Chairman, Chevron Neftegaz Inc. President, and Sergey Kuznetsov, Chevron Neftegaz Inc. Vice President.
The Companies’ Officers discussed the matters of cooperation in hydrocarbon resources transportation. The parties reviewed CPC performance results in 2018. Representatives of Chevron, one of CPC major Shareholders, highly appraised CPC operation indicators and its achievements in labor protection and safety.
Chevron Vice President Jay Pryor emphasized that the success had become possible thanks to consolidated team work in the Consortium’s international Management and high professional level of the entire CPC team. “We even make CPC an example to participant of other international projects with Chevron engagement in various parts of the world”, - noted, in particular, Mr. Pryor.
The parties also discussed opportunities of further increase of Tengiz-Novorossiysk crude pipeline throughput capacity and upgrade.
For reference:
CPC Pipeline System is one of the major investment projects in energy sector with participation of foreign capital 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% и Oryx Caspian Pipeline LLC – 1.75%.