The Prime Minister of Kazakhstan Alikhan Smailov and Director General of the Caspian Pipeline Consortium Nikolay Gorban discussed the issues of ensuring stable operation and development of the Caspian Pipeline Consortium.

The Prime Minister was informed about the results of production activity of the company in 2022, current work and plans for the forthcoming period.

Alikhan Smailov emphasized that CPC plays an important role for the oil industry of Kazakhstan, so issues of its stable operation are in the focus of the Government.

"Last year there were limitations to CPC's operations due to damage to the outriggers at the marine terminal. The repairs were successfully completed and today all restrictions have been lifted. However, it is important to take all possible measures to prevent such situations in the future," Alikhan Smailov said.

According to the Head of the Government, an important issue is to increase the capacity of the pipeline, which will enable to transport additional volumes of oil from Kazakhstan.

In turn, Nikolai Gorban said that the CPC is taking all necessary measures to ensure the pipeline's stable operation and increase the reliability of equipment in use. Moreover, the successful implementation of the Program of debottlenecking enabled to increase the throughput capacity of the pipeline system to about 72.5 million tons of oil per year from the territory of Kazakhstan by the end of 2022.

Following the meeting, Alikhan Smailov stressed that the Government of Kazakhstan is ready for the further study of all existing issues.

For reference: The CPC Pipeline System is one of the largest investment projects in the energy sector in the CIS. The length of the Tengiz-Novorossiysk pipeline is 1,511 km. This route transports most of Kazakhstan's oil exports. The CPC offshore terminal is equipped with three tanker loading facilities, allowing safe loading of tankers at considerable distances from the shore, including in adverse weather conditions.

The CPC shareholders: the Federal Agency for State Property Management represented by PJSC Transneft (trust management) ownership of 24%, CPC Company holds 7%, JSC NC KazMunayGas holds 19%, Kazakhstan Pipeline Ventures LLC has 1.75%, Chevron Caspian Pipeline Consortium Company holds 15%, LUKARCO B. V. 12.5%, Mobil Caspian Pipeline Company 7.5%, Rosneft-Shell Caspian Ventures Limited 7.5%, BG Overseas Holdings Limited 2%, Eni International N.A. N.V. S.ar.l. 2% and Oryx Caspian Pipeline LLC 1.75%.