NC KazMunaiGas JSC and SOCAR Azerbaijan State Oil and Gas Company signed the Memorandum of Understanding
28 january 2019
In Baku, the Chairman of the Board of Directors of KazMunaiGas National Company JSC (hereinafter referred to as KMG NC) Alik Aidarbaev met with the President of SOCAR Azerbaijan Oil and Gas Company Rovang Abdullaev. The Kazakhstan delegation in Baku consisted also of the Deputy Chairman of the Board of Directors for exploration, production and oil services of KMG NC Kurmangazy Iskaziev, General Director of Kaztransoil JSC Dimash Dossanov, General Director of Kazmortransflot National Maritime Shipping Company LLP Marat Ormanov. The prospects of cooperation in all segments of the oil and gas industry were discussed. The Heads of SOCAR and KMG NC signed the Memorandum of Understanding.
The Memorandum provides for the great prospects of cooperation between the companies, including cooperation in domain of geological exploration in Caspian, joint survey of the geological-geophysical materials for exploration of hydrocarbon raw materials, as well as logistics, trading of oil and oil products. As the first particular project of cooperation, the Memorandum provides for transportation to Baku and further upgrade of “Setti” floating drill rig owned by KMG NC. It is planned to use the rig for drilling operations for the projects of SOCAR in the Azerbaijan sector of the Caspian Sea.
At the meeting the protocol of intentions for cooperation in domain of hydrocarbon transportation was signed between the Marketing and Economic Operations Administration of SOCAR and Kazmortransflot NMSC LLP.
After the official meeting, the guests were acquainted with the interactive exhibition at the head office of SOCAR. The exhibition was devoted to the oil industry in Azerbaijan and milestones of the industry successful development.
For information
KazMunaiGas National Company JSC is a Kazakhstan national operator for exploration, production, processing and transportation of hydrocarbons. 90.42% shares of KazMunaiGas NC JSC are owned by Samruk-Kazyna National Wellbeing Fund JSC; 9.58% are owned by the National Bank of the Republic of Kazakhstan.
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