Annual General Meetings of CPC-R and CPC-K took place on 21-22 May, 2019 in Baku.Traditionally, Meeting of the Governance Bodies opened with the report by General Director on operating results of the Consortium, as well as on the HSE performance.
During 2018, the CPC System transported from Kazakhstan 54.24 mln tons of oil, which exceeds the 2017 result by 9%. The overall 2017 result for the System is 61 mln tons; 558 tankers were loaded for export, which is 34 tankers more than in 2017.
In 2018, Total Hours Worked by CPC, including contractors, was 12,643,160; total road transport mileage, including contractors, was 26,343,342 km.
CPC 2018 milestones: 10 million manhours without lost-time injury and 25 mln km without recordable MVAs. To date, CPC Eastern (Kazakhstan) and Western (Stavropol Krai and Krasnodar Krai) Regions have exceeded 21 mln manhours without lost-time injury. For the first four months of 2019, CPC registered 4 mln incident-free manhours.
In 2019, the Consortium plans to ship 67.7 mln tons for exports and to load approximately 650 tankers at the Marine Terminal (MT). During the period of up to 15 May, 22,3 mln tons of oil were lifted at the MT.
Shareholders reviewed and approved the 2018 CPC-R and CPC-K financial statements. New Boards of Directors and Audit Commissions of both companies were elected and third-party auditors for the 2019 fiscal year were approved.
For reference:
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 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: Russian Federation (represented by Transneft – 24% and CPC Company – 7%) – 31%; Republic of Kazakhstan (represented by KazMunayGaz – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%; 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. - 2% and Oryx Caspian Pipeline LLC – 1.75%.