All Caspian oil of LUKOIL to go through CPC

Oil&Gas Materials 16 May 2012 15:29 (UTC +04:00)

Kazakhstan, Astana, May 15 /Trend D.Mukhtarov/

All oil produced by LUKOIL in the Caspian Sea will be transported through the CPC, president of the company Vagit Alekperov told Trend.

Alekperov said tenders have already been held and an expanded pipeline system should be built through the territory of Russia.

"Oil will be transported through the CPC and gas through the Gazprom system. The connection points are already known," Alekperov said.

Caspian Pipeline Consortium (CPC) is a major international crude oil transportation project working with the participation of Russia, Kazakhstan and leading international oil and gas companies such as Chevron, Shell, ExxonMobil, Eni, British Gas, Rosneft and Lukoil, created for the construction and operation of a trunk pipeline more than 1500 kilometres long.

The primary source of crude oil is from prolific fields in Western Kazakhstan with additional crude from Russian producers. This oil is transported through the CPC pipeline to the company's Black Sea Terminal where it is loaded on to ocean going tankers for further delivery to the world markets.