SOCAR acquires 34% in Cross Caspian JV

Oil&Gas Materials 28 April 2006 17:41 (UTC +04:00)

The State Oil Company of Azerbaijan (SOCAR) has acquired 34% stake in the Cross Caspian joint venture, Shahin Mustafayev, the Vice President of the SOCAR on financial issues, told Trend. He did not mention the rest participants in the JV.

According to Mustafayev, Cross Caspian is involved in the coordination of oil transit fro Kazakhstan to the Georgian port of Batumi via the territory of Azerbaijan. it resolves the transportation via sea, delivery via Azertrans terminal, railway of Azerbaijan and Georgia, as well as admission to a terminal in Batumi.

Azertrans, entering a group of companies of Azpetrol remains an owner of the terminal.