Caspian Pipeline Consortium Repairs Have No Impact on National Fund or Budget Revenues, Says Prime Minister Smailov

ASTANA – The repairs at the Caspian Pipeline Consortium (CPC) will not affect revenues to the National Fund and the nation’s budget, said Prime Minister Alikhan Smailov at a Nov. 10 Senate briefing, reported the Prime Minister’s press service.

Alikhan Smailov. Photo credit: Prime Minister’s press service

“In 2022, the National Fund plans to receive 3.9 trillion tenge (US$8.5 billion) from the oil sector. According to the results of 10 months, this plan is over fulfilled by 1 trillion tenge (US$2.18 billion),” Smailov emphasized.

According to Kazakh PM, the oil sector provided 1.4 trillion tenge (US$3 billion) to the nation’s budget over ten months. The plan provides for 1.8 trillion tenge (US$3.9 billion) in a year.

In October, the CPC expected to finish repairing two single-point moorings, the SPM-1 and SPM-2. However, due to inclement weather, these works were suspended.

According to Smailov, the repair of the SPM-1 will be completed in the coming days. Repair of the SPM-2 will begin immediately after that. The work is planned to be completed in two to three weeks.

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