CPC plans to increase oil pumping and increase investments, sets the task of expanding the tank farm and replacing two UPUs, the company said.
The Caspian Pipeline Consortium aims to increase oil pumping in 2024 compared to 2023. In 2023, a record for oil transportation was set — 63.5 million tons, the goal for 2024 is 70 million tons, said the head of CPC Nikolay Gorban. He clarified that according to the results of last year, 56 million tons of black gold were pumped from Kazakhstan and 7.4 million tons from Russia.
The consortium also sets ambitious goals for the development of capital expenditures. If in 2023 they exceeded $ 86 million, then almost $200 million of investments are planned for 2024, the head of the company added. He also said that CPC has completely replaced the equipment with UPU-3, which was damaged in a severe storm in November 2023. Commenting on the topic of storms, Gorban noted that CPC intends to increase the capacity of the tank farm. In addition, the consortium plans to replace two UPUs in 2026, and is currently negotiating with potential contractors for these works.