KazMunayGas, SOCAR ink memorandum on oil transit
BAKU. KAZINFORM On June 22, in Baku, CEO of Kazakhstan’s oil and gas company KazMunayGas Magzum Mirzagaliyev and President of Azerbaijan’s State Oil Company (SOCAR) Rovshan Najaf signed a memorandum of strategic cooperation in transit of Kazakhstani oil through the territory of Azerbaijan, Kazinform learned from KMG’s press office.
The memorandum determines common terms and principles of mutually beneficial cooperation for the purpose of augmenting the capacities for the transit of Kazakhstani oil via Baku-Tbilisi-Ceyhan pipeline.
«In recent years, KazMunayGaz and SOCAR have built strong and trust-based relations. The memorandum signed today is another proof of the strengthening of partnership between both companies and is aimed at deepening cooperation in terms of transporting Kazakhstani oil to world markets,» Magzum Mirzagaliyev noted.