The agreement between SOCAR and Rosneft has expired
Edited by Rhod Mackenzie / 2014-01-14 09:55:20
Azerbaijan Oil and Gas Refining Russia Azerbaijan Oil and Gas Petrochemicals Baku-Makhachkala-Novorossiysk Russia Oil and Gas Oil Pipelines Production and Refining Rosneft
On January 13th 2014, it was 6 months since closure of the agreements between SOCAR and Rosneft within the bounds of the visit of the President of Russia, V. Putin to Baku on August 13th 2013. Rosneft and SOCAR agreed then about foundation of the joint venture on a parity basis for the projects on hydrocarbons exploration and production in different states including Russia and Azerbaijan and joint use of the pipelines and the terminals. Later the chief of Rosneft, I. Sechin explained that the Agreement would help the companies to broaden the geography of activity and to get access to the new markets and resources, and to optimize oil and oil products supplies at the expense of the joint use of the existing infrastructure.
