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SOCAR specifies oil exports volume through Russia

Oil&Gas Materials 18 January 2018 11:02 (UTC +04:00)

Baku, Azerbaijan, Jan. 18

By Maksim Tsurkov – Trend:

Azerbaijan’s state oil company SOCAR exported 1.58 million tons of oil via the Baku-Novorossiysk pipeline in 2017, a source in SOCAR told Trend Jan. 18.

The source said that the final figure slightly exceeded the planned volumes by 1.5 million tons.

“This is normal. The parties [SOCAR and Transneft] stipulate in advance that the final figure may be slightly bigger or smaller than the planned volume. The same is stipulated in the agreement for 2018,” added the source.

In total, the volume of oil pumping by SOCAR via the Baku-Novorossiysk pipeline increased by 31.7 percent in 2017.

In 2016, it stood at 1.2 million tons of oil.

SOCAR plans to export about 1.5 million tons of oil through the Russian direction in 2018.

SOCAR delivers the oil produced at its own fields, as well as the oil from joint ventures and operation companies working at Azerbaijan’s onshore fields, to Novorossiysk. The oil is delivered to the port via the Baku-Novorossiysk pipeline operated by SOCAR.

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, according to SOCAR. Its highest capacity stands at 105,000 barrels a day.

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Follow the author on Twitter: @MaksimTsurkov

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