The first tanker loaded with production from Karachaganak, an oil, gas and condensate field located in Northwest Kazakhstan, departed from Odessa oil loading terminal.
A total of 10,000 tons of REBCO (Russian export blend crude oil) crude was dispatched of the tanker Seasong chartered by major oil trader.
The new export route for Karachaganak crude is the result of an extended joint effort by Karachaganak Petroleum Operating (KPO), the international operating consortium, where LUKOIL is a partner with a 15% interest, and KazTransOil (Kazakhstan).
In accordance with the long-tern agreement between KPO and KazTransOil the crude is pumped via the Karachaganak - Bolshoy Chagan - Samara route. Out of Samara, the crude can be directed either to Black Sea or Baltic ports or directly to Central Europe via the Druzhba pipeline depending on Transneft's export schedule.
Shipping volumes are currently at 20,000 tins per month. They will be increased gradually in the future.
The route complements well the existing Karachaganak crude shipping system through the Caspian Pipeline Consortium and to the Orenburg Gas Plant. The route offers good economics and opens new potential markets for Karachaganak crude.