Sarmatia IPC: Approval of work plan on Brody-Plock pipeline to undergo changes

Economy Materials 8 July 2016 20:16 (UTC +04:00)

Baku, Azerbaijan, July 8

By Maksim Tsurkov – Trend:

The Sarmatia International Pipeline Company, created to raise investment for designing and stretching the Odessa-Brody pipeline in Ukraine to Poland’s Plock city, decided to change the rules for approval of annual work plans, the Sarmatia IPC Director General Sergiy Skrypka told Trend July 8.

He said this decision was made at the annual meeting of the company’s shareholders in late June.

“The work plan for 2017 wasn’t approved this time, because it is necessary to make small changes in this regard,” said Skrypka. “The work planning periods differed from the calendar periods, and the financial year starts on January 1 and ends on December 31, while the work plans are adopted in June. Therefore, we have now decided that the next work plan will be adopted in late 2016 so that it would coincide with the calendar year.”

The Brody-Plock oil pipeline is currently the only incomplete part of the Euro-Asian Oil Transportation Corridor (EOTC). The EOTC project will give the Caspian states an additional reliable route for their oil supplies to the European markets, as well as new customers and opportunities to work in adjacent markets.

Participants of Sarmatia IPC are the State Oil Company of Azerbaijan (SOCAR), Georgian Oil and Gas Corporation Ltd (GOGC), Ukrainian UkrTransNafta, Polish Przedsiebiorstwo Eksploatacji Rurociagow Naftowych Przyjazn SA and Lithuanian AB Klaipedos Nafta.


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