SOCAR and Kazmunaygaz sign agreement in Baku

The agreement was undersigned by SOCAR President Rovnag Abdullayev and Kazmunaygaz president Kairgeldy Kalbydin.

The Transcaspian transportation system envisions supply of Karabakh oil to Azerbaijan with further reexport.

The first stage of the system operation will help transport 500,000 barrels of oil per day and at the further stages its capacity will be brought to 750-1200 thousand barrels per day. The completion of the system creation is planned by the end of 2012.

Kalbydin notably leads the Kazakh delegation at the fourth energy summit in Baku.

/Day.Az/