A business meeting of CPC General Director Nikolay Gorban with Lory Sasko, General Manager, Marketing and Transportation, Tengizchevroil LLP, was held in Atyrau (Republic of Kazakhstan) on 5 August 2024.
The parties discussed fulfillment of the current and future nominations for transporting crude oil from Tengiz field via Tengiz-Novorossiysk crude pipeline, taking into account the ongoing repair work at the field in 2024.
Manager, Marketing and Transportation, Tengizchevroil, informed CPC General Director of the implementation progress of the Future Growth Project - Wellhead Pressure Management Project (FGP - WPMP) of Tengizchevroil aimed at increasing the oil production volumes.
It was noted that in accordance with the Shareholders’ Resolution, specifically for the purposes of receiving, transporting and loading at the Marine Terminal incremental volumes of oil - including oil from Tengiz field - CPC had implemented its Debottlenecking Program in a timely manner and was fully ready to accept these volumes.
CPC General Director emphasized that CPC crude pipeline system was reliable, sustainable, safe and capable of transporting about 72.5 mln tons of oil per year from Kazakhstan territory and up to 83 mln tons of oil per year via the Russian Federation.
From January 2024 through to July 2024, 16 mln tons of oil were received from Tengiz field, transported via CPC crude pipeline and loaded on tankers.
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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 Transneft (trust management) – 24 %, IC CPC Company – 7%, KazMunayGas – 19%, Kazakhstan Pipeline Ventures LLC – 1.75%, Chevron Caspian Pipeline Consortium Company – 15%, Lukoil International GmbH - 12.5%, Mobil Caspian Pipeline Company– 7.5%, Rosneft-Shell Caspian Ventures Limited– 7.5%, BG Overseas Holdings Limited– 2%, Eni International N.A. N.V. S.ar.l. – 2% and Oryx Caspian Pipeline LLC – 1.75%.