SOCAR, KazMunayGas ink memorandum on transit of Kazakhstani oil
The sides emphasized the positive development of cooperation in the oil and gas sector and expressed satisfaction with the start of Kazakhstani oil deliveries to third-country markets through the territory of Azerbaijan this year.
Azerbaijan’s state oil company SOCAR and Kazakhstan’s National Company KazMunayGas have signed a Memorandum of Strategic Cooperation for the transit of Kazakhstani oil through the territory of Azerbaijan, Trend reports.
The document was signed following a meeting between the Prime Ministers of Azerbaijan and Kazakhstan, Ali Asadov and Alikhan Smailov, in Baku, says Azerbaijan’s Cabinet of Ministers.
The sides emphasized the positive development of cooperation in the oil and gas sector and expressed satisfaction with the start of Kazakhstani oil deliveries to third-country markets through the territory of Azerbaijan this year.
Earlier KazMunayGas and SOCAR signed an agreement for the transportation of 1.5 million tons of oil per year from the Tengiz field via the Baku-Tbilisi-Ceyhan pipeline.