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Meeting marking 25th anniv of Caspian Pipeline Consortium kicks off in Nur-Sultan

16 November 2021 11:43

NUR-SULTAN. KAZINFORM – A solemn meeting of the members of the Caspian Pipeline Consortium to mark 25 years since the signing of the shareholder agreement kicked off under the chairmanship of Kazakh President Kassym-Jomart Tokayev in the Kazakh capital, Kazinform correspondent reports.

The Caspian Pipeline Consortium delivers oil from West Kazakhstan, namely Tengiz, Karachaganak, and Kashagan oilfields, to terminals nearby the Russian port of Novorossiysk in the Black Sea. Oil transportation through the 1,500km pipeline began in 2001. Since then, Kazakhstan has delivered over 745 million tons of oil to the world market.

Lately, Kazakh President Tokayev noted the need for increasing the Caspian Pipeline Consortium’s capacity and ensuring its stable management due to the greater oil production, development of new oilfields, and joint implementation of oil production projects during the 17th Cross-Border Cooperation Forum,

«With the aim to increase production as well as develop new, including joint oil production projects, it is important to increase the Caspian Pipeline Consortium’s capacity and ensure stable management of the complex international project. Our enterprises jointly develop the global oilfields – Tengiz and Karachaganak. The sea projects Zhenis and Alfarabi are being implemented in Kazakhstan’s part of the Caspian Sea,» said the Kazakh Head of State.