CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

Meeting of CPC and KMG Management

20221125-2-1.jpgMr. Nikolay Gorban, General Director of CPC and Mr. Magzum Mirzagaliyev, Chairman of the Board of KazMunayGas (KMG) held a working meeting on November 25, 2022 within the framework of the KMG Head business visit to the Russian Federation.

The meeting addressed repairs of SPM-1 and SPM-2 of the CPC Marine Terminal. Nikolay Gorban advised that currently SPM-2 new buoyancy tank was being positioned as designed at depth.

photo by KMG

Discussion topics also included payment of dividends based on the results of 9 months of 2022 to the Consortium shareholders, settlement of disputed items on additional taxes that CPC-K is subject to, and construction of a connecting pipeline between CPC and KTO’s Kasymov PS, being part of Uzen-Atyrau-Samara oil pipeline.

To wrap up the meeting, the parties discussed the most critical issue associated with supply of foreign-manufactured spares and equipment to CPC to ensure safe and uninterrupted operation of the Tengiz-Novorossiysk oil pipeline.

For information:

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%.