Azerbaijan, Baku, Aug. 30 / Trend N.Ismayilova /
The Trans-Caspian Oil Transport System (TCOTS) will open in late 2012-early 2013 given the pace of development at the Kashagan Field, Kazakh Ambassador to Azerbaijan Serik Primbetov said at a news conference today. The TCOTS will transport Kazakh oil through Azerbaijan.
The project is already underway. The KazMunayGas (KMG) National Company and the State Oil Company of the Azerbaijan Republic (SOCAR) have created a joint venture to manage the project, and are currently looking for a company to prepare the project's feasibility study, he said.
Primbetov added that work will become more active after 2012 when the field's commercial development is set to begin.
The tender to determine the company to prepare the feasibility study was announced in June. The tender is nearing completion.
The system's initial capacity will be 23 million tons per year.