SOCAR Trading company, daughter company of SOCAR, has extended contract with the British-Arabian Dragon Oil company for delivery of oil it extracts on the Turkmenistan shelf of the Caspian Sea till the end of 2014.
SOCAR Trading delivers Turkmenistan oil to Baku by tankers of the Caspian Shipping Company (CASPAR) and then pumps it into the Baku-Tbilisi-Ceyhan (BTC) pipeline.
Oil transportation from the Turkmenistan shelf started in July 2010. Till September 1, 2013 8.6 million tons of Turkmenistan oil was transported via BTC.
The company reported that Turkmenistan oil delivered within the framework of the contract will be sold with the discount of 14-17% of Brent oil price.
Dragon Oil headquarters is based in Dubai, it was registered in Ireland and its bloc of shares is owned by Emirates National Oil Co Ltd.—0-
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