SOCAR and 'Transneft' reach agreement on oil transportation via Baku-Novorossiysk

Baku. 25 February. REPORT.AZ/ The State Oil Company of Azerbaijan Republic (SOCAR) and Russian 'Transneft' company have come to an agreement on transportation of Azerbaijani oil via Baku-Novorossiysk pipeline through Russian territory in 2016.

Report was told in the State Oil Company of Azerbaijan Republic.

The company says the agreement will be signed in a few days.

Notably, Azerbaijani oil has been transporting via Baku-Novorossiysk pipeline through Russian territory since 1997. 

The total length of the pipeline is 1 330 km. 1,2 million tons of oil have been transported via Baku-Novorossiysk pipeline in 2015, 1 million tons in 2014, 1,75 million tons in 2013. In 2016, oil transportation of 1,5 million tons via Baku-Novorossiysk pipeline is planned.