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SOCAR reveals volume of transportation via Baku-Novorossiysk in Q3 2015

Oil&Gas Materials 27 July 2015 14:09 (UTC +04:00)

Baku, Azerbaijan, July 27

By Maksim Tsurkov - Trend:

The State Oil Company of Azerbaijan (SOCAR) will pump 423,000 metric tons of oil via Baku-Novorossiysk oil pipeline in Q3 of 2015, a source at SOCAR told Trend.

The source added that these volumes of transportation have already been approved by Russia's Transneft company.

"Of the total volume of oil to be transported via Baku-Novorossiysk in Q3, 168,000 metric tons will be pumped in July, 85,000 metric tons - August and 170,000 metric tons in September," said the source.

The State Oil Company plans to export 1.7 million metric tons of oil produced independently in 2015, compared to 1.55 million metric tons in 2014.

SOCAR transported 932,160 metric tons of oil via the Baku-Novorossiysk pipeline in 2014, compared to 1.75 million metric tons in 2013.

SOCAR has been operating Baku-Novorossiysk oil pipeline since 2008. The company took over the operatorship from Azerbaijan International Operating Company (AIOC - headed by BP).

The length of Baku-Novorossiysk pipeline is 1,147 kilometers: the length of its Azerbaijani section is 231 kilometers and Russian section - 916 kilometers.

The pipeline was filled with oil in October 1996, according to SOCAR. Its maximum capacity stands at 105,000 barrels per day.

SOCAR exported 678,050 metric tons of oil via Baku-Novorossiysk in Jan.-June 2015, or 33.4 percent more than in the same period of 2014 (508,220 metric tons).

The company hasn't exported oil via this route in June due to the repair work at Baku refinery.

The operation of Baku-Novorossiysk pipeline has been resumed since July 22.

Edited by SI

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Follow the author on Twitter: @MaksimTsurkov

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