CPC-R might invest 10 bln rubles in developing two oil pumping stations in Stavropol
STAVROPOL. July 14 (Interfax) - Caspian Pipeline Consortium-R (CPC-R) is looking at the construction of a two oil pumping stations in the Stavropol Territory, the territory's governor office said.
Total investment from CPC-R might reach 10 billion rubles. The pumping stations would be built in the Ipatovsky and Izobilnensky districts.
The company will build the stations as part of its plans to double the pipeline system's transport capacity to 67 million tonnes of oil a year. CPC-R's branch extends 1,495 kilometers, 254 kilometers of which run through the Stavropol Territory.
The company also plans to implement social project in the territory such as the construction of health-care facilities and preschools. At least 150 million rubles will go into these efforts.
CPC operates the 1,511-kilometer Tengiz-Novorossiisk oil pipeline. The CPC's sovereign shareholders are Russia with 31% (managed by Transneft - 24% and CPC Company - 7%) and Kazakhstan has 20.75% (KazMunaiGaz) - 19% and Kazakhstan Pipeline Ventures LLC - 1.75%). The rest of the consortium belongs to private companies: Chevron Caspian Pipeline Consortium Company (15%), LUKARCO B.V. (12.5%), Rosneft-Shell Caspian Ventures Limited (7.5%), Mobil Caspian Pipeline Company (7.5%), Eni International (N.A.) N.V. (2%), BG Overseas Holding Ltd (2%) and Oryx Caspian Pipeline LLC (1.75%).