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Caspian Oil & Gas Conference - SOCAR, Transneft agree on oil pumping this year

SOCAR, Transneft agree on oil pumping this year
11.01.2018

Azerbaijani state oil company SOCAR and Russian “Transneft” agreed on the volume of oil transportation via the Baku–Novorossiysk pipeline in 2018.

SOCAR reported that the company plans to export about 1.5 million tons of oil through the Russian direction in 2018, that is, at the previous year's levels.

“The request has been agreed with the Russian side, and it is planned to pump about 1.5 million tons in 2018, but the final figure may be either higher or lower than planned,” said the message.

The Baku–Novorossiysk pipeline (also known as the Northern Route Export Pipeline and Northern Early Oil Pipeline) is an 1,330-kilometre long oil pipeline, which runs from the Sangachal Terminal near Baku to the Novorossiysk terminal at the Black Sea coast in Russia. 

Diameter of the pipeline is 530 mm. SOCAR is the operator of Azerbaijani part of the pipeline which is 231 km long.

Filling the pipeline with oil started in October of 1996. Maximum throughput capacity of the pipeline is 105,000 barrels a day.

SOCAR includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (the chemical enterprises) and Azerigas (distributor of gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.

The company participates in joint ventures (including ventures in Georgia and Turkey), consortia, and operating companies established with SOCAR’s participation.

SOCAR, which is the only producer of petroleum products in the country, conducts various petroleum activities in countries such as Georgia, Turkey, Romania, Switzerland, Germany and Ukraine, including trading activities, mainly in Switzerland, Singapore and Nigeria.

Transneft, established in 1993, is a Russian state-owned transport monopoly, the largest oil pipeline company in the world. JSC "Transneft" is operating over 70,000 kilometers of trunk pipelines. 

It transports about 90 percent of oil and 30 percent of oil products produced in Russia, in addition to considerable volumes of crude hydrocarbons from the CIS countries. 


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