SOCAR and KazMunaiGas sign Memorandum of Understanding

11:31 - 28.01.2019


January 28, Fineko/abc.az. The State Oil Company of Azerbaijan (SOCAR) and Kazakhstan’s national oil company KazMunaiGas signed the Memorandum of Understanding.

SOCAR reports that the Memo was signed in Baku during the meeting between SOCAR representatives headed by SOCAR president Rovnag Abdullayev and the Kazakh delegation led by KazMunayGas’ chairman of board Alik Aidarbayev.

"The Memo envisages cooperation in the field of exploration in the Caspian Sea, joint research of geological and geophysical materials on exploration of hydrocarbons, in the field of logistics, trading of oil and petroleum products. As the first concrete cooperation project, the Memo stipulates transportation to Baku and modernization of floating drilling rig ‘Sətti’, owned by KazMunaiGas, for subsequent use in drilling operations within SOCAR projects in the Azerbaijani sector of the Caspian Sea," SOCAR informed.

Within the meeting the Protocol of Intentions was also signed between the SOCAR Marketing & Economic Operations Department and national company Kazmortransflot (KMTF) on the prospects of cooperation in the field of transportation of hydrocarbons.

 

Other news