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Memorandum of understanding signed between SOCAR and KazMunayGas

Representatives of SOCAR held a meeting in Baku with a delegation from Kazakhstan.

Memorandum of understanding signed between SOCAR and KazMunayGas

Baku, January 28 - Neftegaz.RU. Representatives of SOCAR headed by the President Rovnag Abdullayev held a meeting with a delegation from Kazakhstan, led by Alik Aydarbayev, Chairman of the Management Board of the KazMunayGas.


Kurmangazy Iskaziev, Deputy Chairman of the Management Board of the KazMunayGas, Dimash Dosanov, Gen. Director of Kaztransoil and Marat Ormanov, Gen. Director of the Kazmortransflot also participated in the meeting.


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 Kazmortransflot regarding cooperation prospects in hydrocarbon transportation.


After the official meeting and discussions, the guests visited an interactive exhibition at SOCAR Tower, which reflects the ancient history of Azerbaijan’s oil industry and the new energy strategy of the republic.


To read the news in Russian.


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