Extraordinary
General Meeting of CPC Shareholders was conducted in Astana on 24 April 2024.
By voting, the participants re-approved CPC Management Organization Chart and
re-election of Nikolay Gorban as a sole executive body with execution of a
relevant employment contract. CPC-R Shareholders had voted on the same matter
earlier. Thus, the resolution has become fully effective.
Nikolay
Gorban, the Consortium’s General Director, made a report at the Meeting. It was
noted that in the past period since the beginning of 2024, 21.1 million tons of oil had
been loaded on 192 tankers at the Marine Terminal. All Shippers’ nominations
were fulfilled on a timely basis and in full.
SPM-2 has
currently been taken out of service for the scheduled work to replace the
floating and subsea hoses. When this work is completed, similar operations will
take place on SPM-1.
The Meeting
participants also discussed flood control measures taken by CPC and its
Contractors’ teams in the regions of the Consortium’s operation facilities and
in close interaction with Atyrau Oblast akimat Headquarters. The Consortium’s
General Director reported that all operations on the Company’s site and line
facilities had virtually been completed in full scope, with particular
attention paid to Atyrau PS.
Thus, the
diking of Atyrau PS territory along the perimeter, AGLDS, MBV at KP 192 and KP
197 was completed, the construction of a protective dam in the area of the
landfill was also completed. At the Sokolok canal, the work was completed to
clear the streambed, dismantle the culvert and construct a protective dam. On
the Chernaya Rechka side, CPC specialized vehicles erected an earthen berm to
protect the facilities of CPC-K, KazTransOil and Karachaganak Petroleum
Operating B.V. (including Kassymov PS
and motor road) against possible waterlogging.
At the
akimat’s request, protective dams were constructed on the Ural river. Forty
units of specialized vehicles, including 28 dam trucks and excavators,
bulldozers and road rollers were engaged at the construction sites. Geotextile
and sandbags were used in construction and reinforcement of the dam. In
particular, the Consortium provided 8,600 sq. m of geotextile and 300,000
sandbags to construct a dam near Bereke settlement.
CPC expressed
its readiness to continue providing aid in the event of further raise of the
water level, also, if needed, for population evacuation.
At the end of
the Meeting, the Shareholders discussed in detail the matters related to
delivery of critical equipment items for CPC operation business and reaffirmed
their commitment to assist in providing the pipeline system with everything required
for safe and continuous operation of the crude pipeline.
For information:
CPC Pipeline System is one of the major
investment projects with foreign capital in energy sector in the CIS. The
length of the Tengiz – Novorossiysk pipeline is 1,511 km. This route transports
over two-thirds of all Kazakhstan export oil, and crude from Russian oil
fields, including those in 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: Federal Agency for State
Property Management represented by PJSC Transneft (trust management) – 24 %, IC
CPC Company (LLC) – 7%, JSC NC 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.
S.ar.l. – 2% and Oryx Caspian Pipeline LLC – 1.75%.