CPC Shareholders passed the Expansion Project

Февраля 15, 2010

CPC-R Board of Directors’ and CPC-K Extraordinary Shareholders’ Meetings were held in Moscow on February 4 and 11. The аgenda items were mostly dedicated to the Expansion Project implementation.

The Shareholders passed the Resolutions for further progress of the Project in accordance with its Implementation Schedule approved in December 2009 which included a set of organizational, engineering, financial and commercial matters.
In addition, the Meeting attendees reviewed various aspects of the routine financial and business activities of the Consortium.
CPC Shareholders:
Russian Federation (represented by Transneft – 24% and CPC Company – 7 %) – 31%; Republic of Kazakhstan (represented by KazMunaiGaz – 19% and Kazakhstan Pipeline Ventures LLC - 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% and Oryx Caspian Pipeline LLC - 1,75%.