Details added (first version posted on 12:10)
Baku, Azerbaijan, Oct. 12
By Maksim Tsurkov - Trend:
Azerbaijan’s state oil company SOCAR plans to pump up to 1.5 million tons of oil via the Baku-Novorossiysk pipeline in 2018, said Adnan Ahmadzade, the head of SOCAR's Marketing and Economic Operations Department.
Ahmadzade made the remarks at the Argus Azerbaijan International Petroleum Summit 2017 in Baku Oct. 12.
"We plan to pump 1.3-1.5 million tons of oil through the Baku-Novorossiysk pipeline in 2018,” he said.
“It is also possible that some volumes will be redirected,” he said. “The negotiations with the Russian side on the possibility of redirecting some volumes via the Baku-Tbilisi-Ceyhan pipeline are underway, but they are complicated by economic conditions."
SOCAR exported 1.16 million tons of oil via the Baku-Novorossiysk pipeline in January-September 2017 as compared to 898,050 tons in the same period of 2016.
SOCAR exported 1.22 million tons of oil via the Baku-Novorossiysk pipeline in 2016 as compared to 1.27 million tons in 2015.
SOCAR exports the oil produced at its own fields, as well as the oil from joint ventures and operation companies working at Azerbaijan’s onshore fields, through Russia’s Novorossiysk port.
Oil is delivered to the port via the Baku-Novorossiysk pipeline operated by SOCAR.