Chevron-led oil venture Tengizchevroil most affected by disruption to major export pipeline
Оригинальный текст опубликован на сайте «Upstream», 27 November 2023 11:42 GMT . Автор: Материал доступен по .
Kazahkstan’s oil production has dropped by about 16% as storms near the Russian port of Novorossiysk have affected supplies to a major export pipeline.
The nation sends about 80% of its export barrels to international markets from the port via a pipeline operated by Caspian Pipeline Consortium.
Over the past two weeks, the operator has had to sporadically suspended loading at its offshore marine terminal in Novaya Ozereyevka, near Novorossiysk, despite having the equipment to cope with harsh sea conditions.
Three single point mooring buoys located about five kilometres offshore are capable of operating in waves of up to 2.5 metres high, according to Caspian Pipeline.
However, the storm brought havoc this weekend, and Caspian Pipeline reported waves of between six and eight metres high on Monday morning.
Kazakhstan’s output fell to about 1.6 million barrels per day on Sunday, with 95% of the reduction affecting its largest producer, the US Chevron-led Tengizchevroil venture, according to the Kazakh Energy Ministry.
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The disruption is understood to have led to the storage tanks at Caspian Pipeline’s terminal filling to their maximum capacity of about 7.5 million barrels of oil.
As a result, the pipeline is unable to accept new oil for transportation to the Russian terminal.
Caspian Pipeline hopes better weather in December will allow higher loading rates to free up storage, Reuters has reported.
Following upgrades at the terminal in Novaya Ozereyevka, Caspian Pipeline can now load tankers from all three buoys at once, instead of from just two previously.
Seeking alternatives
Kazakhstan has stepped efforts to reduce its dependence on Russia for its oil exports after the West imposed sanctions after the invasion of Ukraine, although Caspian Pipeline had been excluded from any restrictions.
Astana has been investigating options of increasing cross-Caspian supplies to Azerbaijan, where its oil can reach the market via a pipeline running from Baku to Georgia and Turkey and terminating at Ceyhan on the Mediterranean Sea.
On Sunday, state-owned oil and gas holding KazMunayGaz confirmed its commitment to transport at least 5.7 million barrels of oil from the Kazakh port of Aktau to Baku next year following the delivery of two new shuttle tankers to work on the 350-kilometre sea route.
The 8000 tonne deadweight tankers Taraz and Liwa were built by Damen Shipyards in the Netherlands in co-operation with KazMunayGaz and Abu Dhabi Ports.
Kazakh oil supplies from Aktau to Baku including commitments from other volume suppliers, including Tengizchevroil, are planned at about 11.4 million barrels in 2024.