CPC Shareholders Meeting was held in Abu Dhabi (UAE) on 25-26 February 2025.
The meeting opened with a discussion of UAV attack on Kropotkin PS facilities on 17 February 2025. The representatives of the Russian Shareholder, Transneft, expressed serious concern over this terrorist act and stated that such attacks on CPC facilities protected by international law were unacceptable.
CPC General Director Nikolay Gorban reported on the PS damages, current condition of the equipment, status of work to dismantle the damaged equipment and status of contractors’ mobilization. The Consortium’s Shareholders expressed readiness to support on any matters related to repairs that would, as expected, take about two months.
Then CPC General Director Nikolay Gorban reported on the Company’s business status and HSE performance. The Shareholders discussed the 2024 results and the plans for the current year.
In 2024, the CPC’s and Contractors’ personnel worked almost 15 mln man hours without injuries and incidents, the motor vehicles ran over 33 mln km without MVAs. Implementation of the Company’s Strategic plan in the Corporate Safe Work Culture Development, specifically, in the Leadership Standard improvement, continues.
There were no accidents on the mechanical and process equipment last year, the operating factor was 0.973. 121 hoses were replaced on the Single Point Moorings. Almost 34,000 schedules maintenance operations were completed on the PS and line pipe facilities last year, 96 defects detected by the inline inspection were repaired.
CPC Marine Terminal lifted 63 million tons of oil in 2024. Revenues from oil transportation through the system amounted to $2.3 billion in 2024. $1.3 billion were paid in dividends.
As of 23 February this year, CPC Marine Terminal loaded 9.8 million tons of CPC Blend on 89 tankers.
The Shareholders also discussed the implementation progress of long-term investment projects, activities of the Reliability Committee, the updated status on the bearing capacity of CPC pipeline line pipes and reviewed the aspects of improvement of procurements regulations.
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 (LLC) – 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%.