OREANDA-NEWS. November 28, 2008. During the meetings the 2009 Budgets of the Companies were approved, reported the press-centre of CPC.

The Shareholders have reviewed the matters pertaining to the Consortium’s ongoing financial and business performance and adopted a number of resolutions necessary for maintaining efficient and safe pipeline operation, and also approved execution of major contract agreements. In addition, measures aimed at MoU signing by the Shareholders on December 17, 2008 and taking practical steps for the CPC expansion were discussed and agreed.

At the CPC-K Shareholders’ meeting a new 16-member composition of the Company Board of Directors was elected.

Both meetings were held in a constructive business-like atmosphere.

The interests of the CPC Founding Governments are as follows: Russia – 31%, Kazakhstan – 19%. Private oil companies participating in the Consortium are Chevron Caspian Pipeline Consortium Company - 15%, LUKARCO B.V. - 12,5%, Rosneft-Shell Caspian Ventures Limited - 7,5%, Mobil Caspian Pipeline Company - 7,5%, Agip International (N.A.) N.V. - 2%, BG Overseas Holding Limited - 2%, Kazakhstan Pipeline Ventures LLC - 1,75% and Oryx Caspian Pipeline LLC - 1,75%.