Management of pipeline company of which SOCAR is shareholder changes

Bozena Knipfelberg, as a representative of PERN S.A., has been appointed chairperson of the Board of the Sarmatia International Pipeline Enterprise, of which SOCAR is a shareholder, Report informs referring to the company.

She replaced Pawel Wysocki, who was appointed in January of this year, in this post.

SOCAR Deputy Vice President for Marketing and Economic Operations Vitaliy Baylarbayov, who until this time was the Chairman of the Board of the Company, continues to work on the Board of Sarmatia LLC as a member of the Board.

Sarmatia was created on July 12, 2004 by Ukrtransnafta and the Polish company PERN Przyjazn SA. Participants of the Sarmatia are the State Oil Company of Azerbaijan SOCAR (25.32%), Georgian Oil and Gas Corporation Ltd (GOGC) (16.09%), Ukrtransnafta (28.79%), Polish Przedsiebiorstwo Eksploatacji Rurociagow Naftowych Przyjazn S.A. (28.79%) and Lithuanian AB Klaipedos Nafta (1%).

The Brody-Plock oil pipeline (Adam’s Gate) is the only missing part of the Euro-Asian oil transport corridor today. As a result of the implementation of this project, the Caspian countries will receive an additional reliable route for supplying their oil to the European market, a circle of new buyers, and their opportunities to work in adjacent markets will also expand. The length of the route will be 377 kilometers, 120 kilometers of which will be built on the territory of Ukraine, and 257 kilometers in Poland.