Caspian Energy Journal Caspian European Club
Monday, 28 January 2019 11:00

SOCAR, KazMunayGas sign MoU

SOCAR, KazMunayGas sign MoU

The representatives of the State Oil Company of the Republic of Azerbaijan (SOCAR) headed by SOCAR President Rovnag Abdullayev held a meeting in Baku with a delegation from Kazakhstan, led by Alik Aydarbayev, Chairman of the Management Board of the National Company KazMunayGas JSC. Kurmangazy Iskaziev, Deputy Chairman of the Management Board of the JSC NC KazMunayGas, Dimash Dosanov, General Director of JSC Kaztransoil and Marat Ormanov, General Director of the National Maritime Shipping Company Kazmortransflot also participated in the meeting, Caspian Energy News ( reports with reference to the press statement of SOCAR.

The representatives of both companies discussed the prospects of wider cooperation between the two companies throughout all segments of the oil and gas industry and a joint work plan for the near future. Later on, heads of SOCAR and KazMunayGas signed a memorandum of understanding.

The Memorandum envisages a wide range of potential cooperation between the companies, including possible cooperation in geological exploration in the Caspian Sea, joint exploration of geological and geophysical materials on the exploration of hydrocarbon crude as well as transport and trading. Within the scope of the memorandum, Satti, a jackup rig of KazMunayGas will be delivered to Baku where it will be modernized and later used for drilling work by SOCAR in the projects in Azerbaijani sector of the Caspian Sea.

During the meeting, a letter of intent was signed between SOCAR Marketing and Operations and National Maritime Shipping Company Kazmortransflot LLP (NMSC) regarding cooperation prospects in hydrocarbon transportation.

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Person in charge of the newsline: Olga Nagiyeva 

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