Kazakh, Azerbaijani Companies Agree On Joint Oil Venture

August 08, 2007 10:39 GMT

(RFE/RL) August 8, 2007 (RFE/RL) -- The Kazakh and Azerbaijani state oil companies have signed a memorandum on the joint implementation of a Trans-Caspian project.

The project plans to include oil terminals on Kazakhstan's Caspian shore, tankers, oil-loading terminals in Azerbaijan, and facilities linking these terminals to the Baku-Tbilisi-Ceyhan pipeline.

KazMunaiGaz and SOCAR say they have also signed an agreement on cooperation in oil and gas, which involves the joint use of SOCAR's oil and gas infrastructure.

The two documents were signed in Astana during a visit by Azerbaijani President Ilham Aliyev.

(with material from agency reports)

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