KazMunayGaz and SOCAR Enhance Strategic Cooperation
Baku, The Gulf Observer: As part of a visit to Baku from July 24-26, CEO of JSC NC KazMunayGaz, Askhat Khassenov, engaged in negotiations with Rovshan Najaf, President of the State Oil Company of the Azerbaijan Republic (SOCAR), media reports. The meeting focused on crucial cooperation matters between the two companies.
In 2002, KazMunayGaz (KMG) and SOCAR signed a five-year agreement for oil transit via the Aktau-Baku-Ceyhan route, with an annual volume of 1.5 million tons. The discussions highlighted the stable supply of Kazakh oil, noting that 1,057,000 tons were delivered from the Port of Aktau last year. In the first half of 2024, this figure has already exceeded 700,000 tons.
Askhat Khassenov emphasized KazMunayGaz’s commitment to further developing this export route. He mentioned that KMG, in collaboration with its partners, is exploring opportunities to increase the supply of Kazakh oil along the Trans-Caspian route. He expressed confidence in the successful implementation of joint initiatives between the two companies.
The parties also discussed prospects for cooperation on decarbonization issues, underscoring the importance of sustainable energy practices.
During his visit to Baku, Askhat Khassenov also toured the BP Sangachal and Azertrans terminals, which are involved in the transit of Kazakh oil. Additionally, he surveyed the domestic Aktau tanker and met with its crew, reinforcing the hands-on approach to ensuring efficient and reliable oil transport operations.
KazMunayGaz and SOCAR’s ongoing collaboration aims to strengthen their strategic partnership and enhance the energy security of the region.
