Baku. 29 October. REPORT.AZ/ Transportation of oil via the Baku-Novorossiysk pipeline will continue in 2016. Report informs, it was stated by President of the State Oil Company of Azerbaijan Republic (SOCAR), Rovnag Abdullayev.
Abdullayev stressed that operation of the pipeline is of great importance: "From an economic point of view, it is important to preserve this pipeline as a third alternative route. Pumping of our oil in the pipeline is crucial for the other side as well."
Abdullayev informed that Azerbaijan was going to export 1,5 million tons of oil on the territory of Russia next year from the port of Novorossiysk.
Baku-Novorossiysk pipeline was built to transport crude oil to the Black Sea port through territory of Russia. The contract on transportation of Azerbaijani oil was signed on February 18, 1996 in Moscow.The oil pipeline began operating in October 1996. The first supplies of oil to the world market were carried out on October 25, 1997.