Results of the Annual General Shareholders Meeting of Caspian Pipeline Consortium, Caspian Pipeline Consortium
Release Date: 2010-05-27
The Annual General Meeting of CPC-R Shareholders and Extraordinary General Meeting of CPC-K Shareholders were held in Rome on May 25-27, 2010.The Shareholders have elected CPC's new Board of Directors with 22 members and the Audit Commission, and approved CPC-R 2009 Annual Report and financial statements. It was decided not to pay dividends for the previous fiscal year. Furthermore, the Shareholders have approved PriceWaterhouseCoopers as CPC's external auditor for 2010.
CPC-K Extraordinary General Meeting has reviewed the financial, economic and HR aspects of the Company’s operations and has passed the relevant resolutions. In particular, CPC has approved several nominations to its organization structure.
The participants have also reviewed the relevant matters related to the CPC Expansion Project such as the contracts for LLIs, nomination of William Simpson by Chevron Caspian Pipeline Consortium Company to the position of Deputy General Director, Projects & Engineering, responsible for the implementation of CPC Expansion Project.
The meetings have also reviewed various aspects of CPC's current financial and economic operations.
CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7%) – 31%; Republic of Kazakhstan (represented by KazMunaiGaz – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%; Chevron Caspian Pipeline Consortium Company - 15%, LUKARCO B.V. – 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Limited – 7.5%, BG Overseas Holding Limited - 2%, Eni International N.A. N.V. - 2% and Oryx Caspian Pipeline LLC – 1.75%.
| Type: | NORMAL |
| Company: | Caspian Pipeline Consortium |
| Country: | 俄罗斯 |