Construction of the CPC began in 1992 by the Russian, Kazakhstani and Omani governments (and a number of private shareholders) to develop and build an oil pipeline from Kazakhstan to export routes in the Black Sea.
The pipeline was the largest international oil transportation project in the world, at 1,510 km (940 miles) long.
It was commissioned in 2001 and a $5.1 billion expansion project completed in 2018.
In 2016, the crude oil from Kashagan oil field in Kazakhstan has started coming into the Caspian Pipeline Consortium’s system
From 2001 to 2020 through the Tengiz-Novorossiysk pipeline system 662,784,671 tons of net oil were delivered to world markets.
Of this amount, 582 814 809 tons is oil from Kazakhstan and 85 295 642 tons is oil produced in Russia.
CPC is one of the most economic and reliable routes for crude oil transportation from the Caspian and Black Sea Region to world markets.
CPC annually transports more than 1/3 of all export crude oil from Kazakhstan, a state with a growing significance in terms of oil product deliveries to the world markets.
CPC Shareholders are:
- Russian Federation (represented by Transneft – 24% and CPC Company – 7%) – 31%
- Republic of Kazakhstan (represented by KazMunayGas – 19% and Kazakhstan Pipeline Ventures – 1.75%) – 20.75%
- Chevron Caspian Pipeline Consortium Company – 15%
- LUKARCO B.V. – 12.5%
- Mobil Caspian Pipeline Company – 7.5%
- Rosneft-Shell Caspian Ventures Limited – 7.5%
- BG Overseas Holding Limited – 2%
- Eni International N.A. N.V. – 2%
- Oryx Caspian Pipeline - 1.75%