ASTANA, Kazakhstan, August 5. The Caspian Pipeline Consortium (CPC) has already achieved mechanical readiness to pump increased volumes of oil from Kazakhstan, Nikolai Gorban, CEO of the CPC, said in a meeting with Kazakhstan's Prime Minister Alikhan Smailov, Trend reports.
One of the key topics of discussion was the completion of the capacity enhancement program aimed at increasing the throughput capacity of the Tengiz-Novorossiysk oil pipeline to 82 million tons of hydrocarbon raw materials per year. In this regard, it was noted that the CPC is ready to transfer higher volumes of oil from Kazakhstan.
In particular, in July, one of the largest and most critical components of the program, a new measurement and quality assessment system for oil at the CPC's Marine Terminal in Novorossiysk, was successfully constructed. This system will enable the simultaneous loading of crude oil from three offshore mooring facilities, allowing for increased oil transportation even during unavoidable shutdowns caused by spring and autumn storms.
The meeting also highlighted that the CPC's Marine Terminal currently ensures uninterrupted oil transshipment and tanker loading operations are being carried out smoothly.
Additionally, discussions took place concerning the uninterrupted energy supply to CPC facilities in the Atyrau region, as well as tax matters and dividend payments to shareholders. It was revealed that in July 2023, the Consortium distributed dividends separately to the shareholders of CPC-K JSC in Kazakhstan for the first time.
The Caspian Pipeline Consortium is a major international oil transportation project that involves Russia, Kazakhstan, and leading global oil producers. It was formed to construct and operate a long-distance trunk oil pipeline spanning over 1,500 kilometers.