KazMunayGas plans to conduct geological works with SOCAR

  • 12:39 31 May 2019

KazMunayGas plans to conduct geological works with SOCAR

KazMunayGas Company of Kazakhstan plans to implement geological works together with SOCAR, said deputy chairman of Board on Geology and Exploration of KazMunayGas Kurmangazi Iskaziyev in his interview to journalists, ONA reports.

According to him, it is envisaged to conduct works on and off-shore in Kazakhstan and Azerbaijani territories. After geological works sides will choose the most perspective and economically profitable structures to further cooperation.

Furthermore, the issue of transportation of Kazakh oil through Azerbaijani territories is discussed. It is connected with recent increase in oil production in Kazakhstan.

“It will enable us to diversify hydrocarbon exportation”, K.Iskaziyev added.

According to him, the volume of oil to be transported through Azerbaijani territories will depend on the results of negotiations: “Everything will depend on economical profitability and tariffs”.