Azerbaijan, Baku / Trend , corr. S. Aliyev/ The State Oil Company of Azerbaijan Republic (SOCAR) intends to ship a large tanker of light crude to Thailand's PTT Public Company Limited from the Turkish Mediterranean Sea Port of Ceyhan at the end of June 2007.
SOCAR announced that the volume of the forthcoming oil consignment is believed to reach 1mln barrels of Azeri Crude Light.
SOCAR will deliver oil within the contract on SOCAR's direct deliveries, which was signed between SOCAR and PTT on 28 February, 2007. The oil will be delivered on the terms of FOB or CFR from the Ceyhan Port, where Azerbaijani oil is piped via BTC (Baku-Tbilisi-Ceyhan Pipeline).
In May SOCAR shipped a tanker for PTT with a volume of 1mln barrels of Azeri Light oil.
PTT Public Company Limited is Thailand's largest oil company, engaged in oil and gas production, oil refining, transportation, as well as importation/exportation of hydrocarbons and oil products. PTT has stakes in Thailand's four oil refineries with the daily refining capacity of 925,000 barrels of oil.
SOCAR is currently negotiating its own direct oil deliveries, inclusive of U.S.A and the Far East from the Ceyhan Port. SOCAR produces light oil on the offshore bloc of field of Azeri-Chiragh-Gunashli within the Contract of the Century signed in 1994.