Askhat Khassenov, the Chief Executive Officer of NC KazMunayGas JSC (KMG), engaged in negotiations during his visit to Baku from July 24-26. He met with Rovshan Najaf, the President of the State Oil Company of the Azerbaijan Republic (SOCAR).

Source: KMG

The discussions focused on essential cooperation matters. In 2022, KMG and SOCAR signed a five-year Aktau-Baku-Ceyhan Oil Transit Agreement to transport 1.5 million tons of crude oil annually.

During the meeting, the stable supply of Kazakh oil was emphasized. In 2023, 1.057 million tons of oil were shipped from the port of Aktau, with over 700 thousand tons transported in the first half of this year.

Mr. A. Khassenov mentioned that KazMunayGas aims to enhance this export route. Currently, KMG and its partners are exploring options to increase Kazakh oil supplies via the Trans-Caspian route.

The CEO expressed confidence in the success of the joint initiatives between the two companies. Additionally, discussions touched on potential cooperation in the decarbonization field.

While in Baku, Mr. A. Khassenov visited the BP Sangachal and Azertrans terminals involved in Kazakh oil transit operations. He also interacted with the crew members on board the AKTAU Kazakh tanker.