On January 24, a Memorandum of Understanding was signed in Astana on the main principles of cooperation in the project Kazakh Caspian Oil Transportation System, Trend Special Correspondent in Astana reports. The document is the result of the agreement reached between Kazmunaygaz, Chevron Ltd, and ExxonMobil Kazakhstan. The signed Memorandum is the first step in creating Kazakh Caspian Oil Transportation System which will serve as the diversification of the export flow of the hydrocarbon materials, said the President of Kazmunaygaz, Uzakbay Karabalin.
Kazakh Caspian Oil Transportation System has been intended for exportation volume of the Kazakh oil produced in the fields Kashagan and Tengiz via energy corridor East-West through the route of Kurik-Baku-Tbilisi-Ceyhan pipeline. Generally to create conditions for the successful realization of the project, on June 16, 2006, a contract had been concluded between Azerbaijan and Kazakhstan on providing assistance and support in transporting the Kazakh oil via Caspian and territory of Azerbaijan to the world market through BTC. Within Kazakh Caspian Oil Transportation System, it is planned to create a pipeline till Kurik Port in the territory of Kazakhstan and transport system which will comprise of the oil from terminals in Kazakh sector of Caspian, 2 oil terminals in Azerbaijan sector of Caspian, tankers and connecting system till BTC.
It is planned that Kazakh Caspian Oil Transportation System will, at the beginning, ensure the transportation of 25 mln tons of oil annually, and 38 mln tons in the future.
Projecting, constructing and giving into exploitation Kazakh Caspian Oil Transportation System is scheduled for the beginning of the oil production in Kashagan field till 2010-2011.