News

2017 February 10 15:22

CPC and Astrakhan region signed a Cooperation Agreement

On February 9, 2017 CPC General Director Nikolay Gorban and Astrakhan Oblast Governor Alexandr Zhilkin signed a Cooperation Agreement between the Consortium and the Region, says Caspian Pipeline Consortium (CPC). CPC Deputy General Director Mikhail Grishankov and Astrakhan Oblast Government Members and the Heads of the Region Municipalities the territories of which are crossed by CPC crude pipeline route participated in the ceremony.

The document is aimed at further development of cooperation in both industry and social partnership. The Agreement priority objectives include successful completion of the Project to expand the capacities of the Tengiz-Novorossiysk crude pipeline system, support to its continuous and accident-free operation, further development and efficiency enhancement of functioning of industry, transportation and other economy branches in Astrakhan Oblast and of the Consortium’s facilities.

CPC will keep on providing active support to the Oblast social sphere in culture, education, health care and sports. Implementation of programs to support the most vulnerable strata of society.

- Cooperation in those main aspects between the Consortium and Oblast will be on a permanent basis, - CPC General Director Nikolay Gorban assured after the ceremony of document signing. He reminded that the new Agreement was not the first among similar documents signed during almost two decades of cooperation with CPC. In 1998-2016, the Consortium invested in the charity projects on the territory of Astrakhan Oblast over 600 million Rubles.

In his turn, Governor Alexandr Zhilkin emphasized that the Cooperation Agreements between the Consortium and Oblast had always been implemented scrupulously for the good of the Oblast community.

- We are glad that such a corporate citizen as CPC is doing business on the territory of the Oblast, and we wish our reliable partner further successful development, - pointed out the Governor.

On the same day CPC Officers handed over a CT scanner worth about 40 million Rubles to the Oblast Children Clinical Hospital named after N. Silishcheva.  As a reminder: in late 2016 the Consortium acquired medical equipment work 20 million Rubles for the needs of that Hospital.

The CPC pipeline system is one of the largest investment projects with foreign capital in the energy sector in the CIS. The length of the pipeline connecting oil fields in Western Kazakhstan with the Marine Terminal in Novorossiysk is 1,511 km. CPC’s Marine Terminal is equipped with Single Point Moorings that allow to load tankers safely at a significant distance offshore, including bad 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%.