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SOCAR to increase oil transportation through Russia in 2017

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Azerbaijan’s State Oil Company SOCAR and Russia’s Transneft have agreed on volumes of oil transportation via the Baku-Novorossiysk pipeline for 2017, a source in SOCAR reported.

socar_logo_new_200914_s-1In 2017, SOCAR plans to export about 1.5 million tons of oil through Russia, while in 2016 this figure is expected to reach 1.3 million tons, according to the source.

“Until the end of 2016, SOCAR will transport another 80,000 tons of oil via the Baku-Novorossiysk pipeline, and after that, the whole plan of oil volume for this year will be carried out,” said the source. “In 2017, it is planned to increase the volume of pumping to 1.5 million tons of oil, 325,000 tons of which are planned to be pumped in the first quarter of 2017.”

SOCAR transported 1.27 million tons of oil via Baku-Novorossiysk pipeline in 2015, as compared to 932,160 tons in 2014.

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.

A new agreement between SOCAR and Russia’s Transneft company, according to which SOCAR will transport 1.3 million tons of oil produced by it at onshore and offshore fields via Baku-Novorossiysk pipeline in 2016, was signed in February 2016.

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