SOCAR to Unload First oil Cargo on Direct Contract

Oil&Gas Materials 13 September 2007 18:56 (UTC +04:00)

Azerbaijan, Baku / corr Trend S.Aliyev / Late September or beginning of October the State Oil Company of Azerbaijan (SOCAR) plans to ship for Thailand's PTT Public Company Limited a big tanker cargo of light oil. This cargo will comprise 1mln barrels of Azeri Light oil, SOCAR said.

The shipment will be carried out from the Turkish port of Ceyhan, where it will be supplied through the Baku-Tbilisi-Ceyhan main export pipeline.

In the first quarter of 2007 the SOCAR and PTT concluded a 1-year contract, which commits Azerbaijan to deliver oil to the ORP of Thailand on FOB or CFR conditions.

SOCAR produces light oil from the Azeri-Chirag-Guneshli fields under the Contract of the Century concluded in 1994.