CPC accepted one million tons of crude oil from Russia's oil fields in the Caspian Sea
CPC says it accepted a millionth ton of LUKOIL crude oil at Komsomolsk PS in Kalmykia on 6 February 2017. According to CPC Operations, the company achieved this milestone in full HSE compliance.
Please be reminded that crude oil supplies from Russia's Filanovsky and Korchagin offshore fields in the Caspian Sea to CPC started on October 1, 2016. CPC plans to move 5.5 million of crude oil from these fields in 2017.
The CPC pipeline system is one of the largest investment projects with foreign capital in the energy sector in the CIS. The length of the pipeline connecting oil fields in Western Kazakhstan with Marine Terminal in Novorossiysk is 1,511 km. CPC’s Marine Terminal is equipped with Single Point Moorings that allow to load tankers safely at a significant distance offshore, including bad weather conditions.
CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7%) – 31%; Republic of Kazakhstan (represented by Kazmunaygaz – 19% 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% and Oryx Caspian Pipeline LLC – 1.75%.