Crude oil from the field is being received in a reduced mode at the CPC pipeline system
In view of the repairs at Tengiz field in the Republic of Kazakhstan, crude oil from the field is being received in a reduced mode at the CPC pipeline system head section (Tengiz PS), according to CPC.
Also due to the suspension of oil production at Kashagan field, the oil volumes received in CPC pipeline system have been reduced.
The said factors entailed significant reduction of the total volume of crude pumped through the Tengiz-Novorossiysk pipeline system.
The recovery of the standard pumping volumes will be announced additionally.
The Company’s Shareholders and Shippers have been notified of the existing situation and interact on an ongoing basis in respect of the current context.
CPC Pipeline System is one of the major investment projects with foreign capital 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 crude, as well as 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, also amid poor weather conditions.
CPC Shareholders: Federal Agency for State Property Management represented by Transneft (trust management) – 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. S.ar.l. – 2% and Oryx Caspian Pipeline LLC – 1.75%.
