Caspian Pipeline Consortium Transports Record 63.5 Million Tons of Oil in 2023

ASTANA – The Caspian Pipeline Consortium (CPC) set a historic record by transporting 63.5 million tons of oil in 2023, CPC General Director Nikolay Gorban announced at a press briefing on Jan. 16, reported the CPC’s press office.

Photo credit: BASHTA/iStock.

Of these, 56 million tons came from Kazakh shippers, Gorban added, emphasizing that CPC’s Kazakh segment (CPC-K) logged 1.7 million accident-free man-hours, and the total vehicle mileage of 3.4 million kilometers in Kazakhstan experienced no serious accidents throughout the year. These statistics equate to over 12 million hours and 28 million kilometers, respectively.

2023 was distinguished by a high concentration of construction and installation work at most facilities during the implementation of the Bottleneck Elimination Program, which was completed.

This year, work continues on the construction of new external power supply facilities and installation of variable frequency converter equipment, enhancing the reliability and cost-effectiveness of the entire Tengiz-Novorossiysk pipeline system.

In the next few years, the CPC plans to change around 400 kilometers of the main oil pipeline’s linear section. In December, the CPC began replacing the first 27 kilometers, with a scheduled start for replacing two remote mooring devices in 2026, both in operation since 2001.

In 2023, the CPC’s consolidated revenue totaled $2.3 billion, with CPC-K contributing $460 million. CPC-K’s net profit reached 77 billion tenge ($170.1 million), and tax payments approached 80 billion tenge ($176.7 million).

According to the forecast for 2024, CPC’s consolidated revenue will increase to $2.5 billion, with projected figures for CPC-K including 236 billion tenge ($521.4 million) in consolidated revenue, a net profit of 92 billion tenge ($203.2 million), and tax deductions of 48 billion tenge ($106 million).

CPC shareholders received $1.34 billion in dividends last year, marking the first instance of the CPC paying interim dividends separately to shareholders of CPC-K in Kazakhstan, totaling $93.5 million.

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