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CPC increases oil lifting via its marine terminal

Oil&Gas Materials 7 November 2019 14:16

BAKU, Azerbaijan, Nov.7

By Nargiz Sadikhova - Trend:

The volume of oil lifting via Caspian Pipeline Consortium’s (CPC) Marine Terminal (MT) amounted to 5.4 million gross tons (43.4 million barrels) of crude oil in October 2019, which is 7 percent more than during the same period of last year, Trend reports with reference to the data of CPC.

Fifty three tankers were handled, which also is six tankers more than last month. October lifting schedule was completed in full.

Some 490 oil tankers were handled at the MT from January through October 2019, which transported 51.9 million gross tons of crude in their tanks.

Out of the 5.4 million tons lifted in October 2019, 2.6 million tons of crude was from Tengiz field, 616,537 tons from Karachaganak field, 1.4 million tons from Kashagan field and 134,443 tons from other Kazakh producers.

In October, the Kazakh producers shipped a total of 4.8 million tons of crude, and 655,849 tons of lifted crude was received from the Russia.

CPC Pipeline System is one of the major investment projects in energy sector with participation of foreign capital in the CIS.

The length of the Tengiz–Novorossiysk Pipeline is 1,511 km; it transports over two thirds of all Kazakhstan export crude, as well as crude from Russian oil fields, including the Caspian Region.

CPC Shareholders: Russia (represented by Transneft – 24 percent and CPC Company – 7 percent) – 31 percent; Kazakhstan (represented by KazMunayGaz – 19 percent and Kazakhstan Pipeline Ventures LLC – 1.75 percent) – 20.75 percent; Chevron Caspian Pipeline Consortium Company - 15 percent, LUKARCO B.V. - 12.5 percent, Mobil Caspian Pipeline Company – 7.5 percent, Rosneft-Shell Caspian Ventures Limited – 7.5 percent, BG Overseas Holding Limited - 2 percent, Eni International N.A. N.V. - 2 percent and Oryx Caspian Pipeline LLC – 1.75.

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