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Friday, January 18, 2019

KazTransOil, Rosneft NC endorse oil transportation deal

Chairman of the Management Board of KazTransOil Kairgeldy Kabyldin and President of NC Rosneft Igor Sechin have endorsed the terms of the "Provisional agreement for oil transportation across the territory of the Republic of Kazakhstan."

As a result of the deal, KazTransOil began providing NC Rosneft services on the Priirtyshsk-Atasu-Alashankou route on Jan. 1.

The contract is for five years with the option of renewal for an additional five years. Payment will be made in compliance with the tariffs established in legislation of the Republic of Kazakhstan.

KazTransOil is the national oil transporter in Kazakhstan, accounting for 80 percent of all oil transported in the country. The company operates more than 3,700 miles of oil pipelines and 1,860 miles of water pipelines

Rosneft is a leading Russian oil company and is the completely owned by the state. It controls more than 40 affiliates in 19 regions of the country, carrying out activities at 176 oil fields.