SOCAR reveals oil pumping plans via Baku-Novorossiysk pipeline

Baku, Azerbaijan, June 14

By Maksim Tsurkov - Trend:

Azerbaijan's state oil company SOCAR will pump about 420,000 tons of oil via Baku-Novorossiysk pipeline in the fourth quarter of 2016, a source in SOCAR told Trend.

The source said Russia's Transneft company has already approved the transportation of these volumes.

"Monthly breakdown will be revealed a little later," added the source.

SOCAR transported 1.27 million tons of oil via Baku-Novorossiysk pipeline in 2015, as compared to 932,160 tons of oil in 2014.

The Baku-Novorossiysk pipeline is 1,147 kilometers long. The length of its Azerbaijani section is 231 kilometers and Russian section - 916 kilometers.

The pipeline was filled with oil in October 1996. Its highest capacity stands at 105,000 barrels a day.

A new agreement between SOCAR and Russia's Transneft company, according to which SOCAR will transport 1.3 million tons of oil produced by it at onshore and offshore fields via Baku-Novorossiysk pipeline in 2016, was signed in February 2016.

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Follow the author on Twitter: @MaksimTsurkov

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