Astana to Reach Peak Oil Production via CPC in 2024
Houston, March 8 – Kazakhstan plans to achieve maximum oil pumping capacity within the framework of the Caspian Pipeline Consortium (CPC) by the end of 2024, the country’s Energy Minister Bulat Akshulakov told the News Agency on the sidelines of the CERAWeek International Energy Conference in Houston, Texas.
Earlier, Akshulakov said that Kazakhstan plans to increase oil transportation through the CPC from more than 50 million tons to 60 million tons in 2023.
The CPC oil pipeline system is the largest route for transporting oil from the Caspian Sea region to world markets. The main 1.5,000 km pipeline connects fields in western Kazakhstan to Russia’s Black Sea coast, where oil is shipped to tankers via the offshore terminal. Among the company’s largest shareholders are the Russian Federation (via Transneft), Kazakhstan (via Kazmunaigas), Chevron, Lukoil, ExxonMobil, Rosneft and Shell JVs.
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