Trans-Caspian Oil Transport System to become on stream in 2013-2014

The Trans-Caspian Oil Transport System (TCOTS) which will transport Kazakh oil through Azerbaijan will be put into operation in late 2012 - early 2013 with the development of the Kashagan field, Kazakh Ambassador to Azerbaijan Serik Primbetov said at the news conference today.

The project is underway. The National Company KazMunayGas (KMG) and the State Oil Company of Azerbaijan Republic (SOCAR) have created a joint venture. They carry out elaboration [determine a company to prepare a feasibility study on the project]," Primbetov said.

The most active work will begin after 2012, as the commercial development of the Kashagan oil field will begin by late 2012, he said.

The tender to determine the company to prepare feasibility study for TCOTS project was opened in June. The tender is almost nearing end.

The system's initial capacity will be 23 million tons per year. It envisages construction of tankers and terminals in Azerbaijan and Kazakhstan, as well as connecting pipes. Existing terminals may be involved in the first stage.


/Trend/