CPC Marine Terminal ships off half a billion tons of crude oil
On 12 August 2017 at 15:48 Moscow time, the CPC Marine Terminal loaded a milestone half-billionth ton of crude oil, since the commencement of the oil pipeline system operation, onto the Ohio oil tanker chartered by Karachaganak Petroleum Operating.
CPC says the Tengiz-Novorossiysk pipeline system was put into operation at the end of 2001. By mid-2004, CPC reached the full throughput of the first development phase - 28.2 million tons.
From 2005 the Consortium, using drag reducing agents, increased gradually transported quantities, bringing them to 35 million tons per annum in 2010.
In 2011, CPC launched its Expansion Project, wherein stage-wise commissioning of new facilities enabled further gradual throughput buildup. In 2014, the CPC Marine Terminal transshipped more than 40 million tons. In 2016, the Consortium dispatched to the world markets as many as 44.3 million tons of crude oil. From the beginning of 2017 through the end of July, over 31.7 million gross tons of crude oil were shipped, which is by 6.1 million tons more compared to the same period of 2016.
It should be noted that the CPC oil pipeline system resource base expanded significantly in 2016: major oil fields of Tengiz and Karachaganak were supplemented with the Kashagan oil field of Kazakhstan and Filanovksy and Korchagin oil fields of Russia. Currently, crude oil is supplied to the Consortium pipeline system from more than ten oil fields.
In 2017, after commissioning of all Expansion facilities, the CPC trunk pipeline throughput will rise to 67 million tons of crude oil per annum.
CPC pipeline system is one of the largest investment projects in the energy industry with participation of foreign capital in the CIS. The length of the pipeline connecting oil fields in Western Kazakhstan with the Marine Terminal near Novorossiysk is 1,511 km. CPC Marine Terminal is equipped with single point moorings which allow for safe tanker loading at a considerable distance from the shore, also when the weather conditions are unfavorable.
CPC Shareholders: Russian Federation (represented by Transneft – 24% of and CPC Company – 7%) – 31%; Republic of Kazakhstan (represented by KazMunayGaz – 19% of and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%; 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% of and Oryx Caspian Pipeline LLC – 1.75%.