OREANDA-NEWS. October 2, 2009. Kazakhstan’s National Company KazMunayGaz and the State Oil Company of Azerbaijan (SOCAR) have signed today in Baku the Memorandum of Co-operation on the project of oil pipeline Baku-Black Sea.

Their joint press release says that the Memorandum of Intention on co-operation on oil pipeline Baku-Black Sea defines basic principles of partnership on study of a possibility of construction on equal equity stake basis of the new oil pipeline to run from the Caspian coastline in the region of Baku to Black Sea coastline for Kazakh oil transit through Azerbaijani territory and optimal use of existing oil transport infrastructure in Azerbaijan.

Earlier Kazakhstan planned to use oil pipeline Baku-Supsa for these ends.