KMG: About 3.4M tons of Kazakh oil transported via BTC pipeline

The total volume of oil transported from Kazakhstan via the Baku-Tbilisi-Ceyhan (BTC) pipeline since the signing of the agreement between SOCAR and KazMunayGas has reached approximately 3.4 million tons, Report informs referring to a press release by the Kazakh oil company KazMunayGas following a meeting between the company's CEO, Askhat Khasenov, and the president of the State Oil Company of Azerbaijan (SOCAR), Rovshan Najaf, in Astana.

The parties reviewed bilateral cooperation and discussed the status and plans for hydrocarbon transportation along the Baku-Tbilisi-Ceyhan route.

"It was noted that since the signing of the transit agreement along this route, KMG and SPCAR subsidiaries have transported approximately 3.4 million tons of Kazakh oil on a parity basis," the press release stated.

Najaf and Khasenov also exchanged views on the implementation of quadrilateral memoranda between KMG, SOCAR, Tatneft, and Uzbekneftegaz in the areas of digital technology and industrial safety.

"KMG is committed to strengthening strategic cooperation with SOCAR aimed at developing the transit potential of Kazakhstan and Azerbaijan, as well as increasing Kazakh oil exports to international markets. We are also interested in expanding cooperation with our Azerbaijani partners in geological exploration, low-carbon development, joint investment projects, and measures to improve the health of the Caspian Sea," Khasenov was quoted as saying in the press release.

In 2022, KMG and SOCAR signed a general agreement on the transit of Kazakh oil.