A regular meeting of CPC-R and CPC-K corporate governance bodies was conducted in the Moscow Office of Caspian Pipeline Consortium on 23 November 2021. The meeting was opened by General Director Nikolay Gorban’s report on the Company’s business status and HSE, including the incident during construction work resulting in a contractor’s employee’s death.
From 1 January through to 31 October 2021, 49,289,039 gross tons of oil were lifted and 477 tankers were processed at CPC Marine Terminal.
From 2001 through to 31 October 2021, CPC Marine Terminal processed 7,124 tankers. During the said period, 754,124,751 net tons of crude oil were delivered to the world markets via the Tengiz-Novorossiysk crude pipeline system. 657,622,006 tons of that crude came from Kazakhstan and 96,502,745 tons of crude were produced in Russia.
The Debottlenecking Program (DBN) implementation progress was reviewed at CPC-R Board of Directors’ meeting. Construction started at the DBN facilities in Russia and Kazakhstan and main equipment was delivered in 2021. After the DBN completion in 2023, the CPC crude pipeline throughput capacity will be increased up to 80 million tons of oil per year.
In the course of its meeting, CPC-R Board of Directors also reviewed the 2021 budget performance, dividends payment to CPC Shareholders, status of actions related to the oil spill incident on 7 August 2921, implementation of actions to prevent the threat of the COVID-19 infection spread in the Company, morbidity and vaccination statistics and other routine matters.
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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%.