A 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 Almaty on 12-13 September 2024.
The meeting was opened with CPC General Director Nikolay Gorban’s report on the Consortium’s operations, occupational health, safety and environmental protection indicators.
As of August 2024, CPC’s and Contractors’ personnel and representatives worked almost 10 million man-hours without injuries and incidents. Mileage of CPC and its contractors’ motor vehicles exceed 21 million kilometers.
The operating factor YTD is 0.975. During the same period, more than 20,000 scheduled maintenance tasks were performed at site facilities and on the line section under work permits.
The Consortium has ramped up crude transportation volumes versus last year's indicators. By late August 2024, 43.8 million tons were loaded on 405 tankers and shipped for export. On the same date last year, these indicators were 42.8 million tons and 391 tankers, respectively.
Then, an Update on the Reliability Steering Committee’s work and the CPC Pipeline System Reliability Program execution status were reported to the function participants.
The Shareholders listened to and discussed the Report on the Company’s Long-Term Investment Projects implementation status and the Equipment Upgrade execution.
The Shareholders also reviewed the financial performance of the Caspian Pipeline Consortium.
For information:
CPC Pipeline System is one of the major projects 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.
CPC Shareholders: Russian Federation – 24 %, IC CPC Company (OOO) – 7%, NC KazMunayGas JSC – 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%.