The expansion project was approved at a recent meeting of the CPC Board of Directors. The meeting also covered matters regarding the project management, purchase of long-lead equipment and financing approaches for the project.
The expansion will involve the construction of 10 additional pump stations – two to be located in Kazakhstan and eight to be located in Russia – six crude oil storage tanks near Novorossiysk, and a third single point mooring at the CPC Marine Terminal.
The project is expected to commence as early as next year with completion in 2014.
CPC participants include Transneft, CPC Company, KazMunayGaz, Chevron Caspian Pipeline Consortium Company, Lukarco, Mobil Caspian Pipeline Company, Rosneft-Shell Caspian Ventures, BG Overseas Holding, Eni International, Kazakhstan Pipeline Ventures and Oryx Caspian Pipeline.