CPC reveals plans on oil transportation in 2018

Oil&Gas Materials 4 April 2018 12:00 (UTC +04:00)

Baku, Azerbaijan, April 4

By Ali Mustafayev – Trend:

In 2018, the Caspian Pipeline Consortium (CPC) plans to transport 60 million tons of oil produced in Kazakhstan, CPC General Director Nikolai Gorban said at a press conference, Kazakh media outlets reported.

"Generally, the consortium plans to transport 67 million tons of oil through its pipeline system in 2018. It is expected that nearly 60 million of the mentioned volume will be mined in Kazakhstan, and about 7 million in Russia," Gorban said.

He also stressed that the CPC expects a twofold increase in the receipt of oil from the Kashagan field (to 13 million tons, compared to 7.4 million tons in 2017).

Gorban added that 12 million tons of oil from the Karachaganak field and about 28 million tons of oil from the Tengiz field out of 60 million tons of oil produced in Kazakhstan will be transported through CPC pipes in 2018.

The consortium also plans to make payments on debt to its shareholders in the amount of $1.3 billion in 2018.

The consortium already made $310 million of payments on debt to the shareholders for the first quarter of 2018.