Azerbaijan, Baku, 21 May / Trend E.Ismailov /
Termination of transportation through the Baku-Novorossiysk oil pipeline will not affect oil production in Azerbaijan nor its exports, the head of SOCAR (State Oil Company of Azerbaijan) Rovnag Abdullayev said on Tuesday, commenting on the issue of termination of the intergovernmental agreement on oil transit through the territory of Russia.
According to him, the supply of oil via the Baku-Novorossiysk pipeline will be continued in accordance with the existing agreement by the end of the year.
Abdullayev said negotiations on the transit of oil through the territory of Russia that have taken place earlier will be continued.
Earlier, Russian Prime Minister Dmitry Medvedev has signed a decree to terminate the agreement with Azerbaijan on the transit of Azerbaijani oil via the Baku-Novorossiysk pipeline.
AIOC acted as operator of the Baku-Novorossiysk pipeline until the end of 2007, when these functions were transferred to SOCAR.
SOCAR undertakes transhipment of oil from its own fields as well as that of joint ventures and operating companies working onshore in Azerbaijan through Novorossiysk.
In 2012, SOCAR exported 2.06 million tons compared to 1.99 million tons in 2011 via the Baku-Novorossiysk northern pipeline.