CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

Meetings of CPC Corporate Governance Bodies

20220928-2-1.jpgA Meeting of the Board of Directors of Caspian Pipeline Consortium-R JSC and an Extraordinary General Meeting of the Shareholders of Caspian Pipeline Consortium-K were held in Baku on 27-28 September 2022.

Nikolay Gorban, CPC General Director, reported on the Consortium’s business status, including HSE aspects. The Shareholders discussed crude movement matters and financial performance.

From the beginning of 2022 to 1 September, the Consortium and its contractors worked nearly 11.5 mln man-hours without lost-time incidents. Over this period, the motor vehicles ran over 22.2 mln km without MVAs.

As of 15 September 2022, crude oil lifting from the Marine Terminal amounted to 41.5 mln tons. Since the beginning of 2022 until mid-September, 382 tankers were processed in Yuzhnaya Ozereevka.

The Shareholders reviewed the progress of the CPC Debottlenecking Program implementation. As a reminder: after its completion, the Tengiz-Novorossiysk crude pipeline throughput capacity will be brought to almost 80 mln tons per year.

The current situation related to CPC Marine Terminal operation in the context of the forthcoming replacement of the buoyancy tanks at the first and second Single Point Moorings of the Terminal.

The Shareholders also listened to and discussed updates on the Reliability Steering Committee, Tengiz–Novorossiysk Pipeline line bearing capacity and other matters.

For information:

The CPC Pipeline System is one of CIS largest energy investment projects that involves foreign capital. The length of the Tengiz – Novorossiysk pipeline is 1,511 km. This route moves over two thirds of all Kazakhstan export oil along with crude from Russian fields including those in the Caspian region. CPC Marine Terminal is equipped with three Single Point Moorings (SPM), allowing tankers to be loaded safely at significant distance offshore, including in poor weather conditions

CPC Shareholders: Federal Agency for State Property Management represented by Transneft (trustee) – 24%, CPC Company – 7%, KazMunayGas – 19%; Kazakhstan Pipeline Ventures LLC – 1.75%, 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%.