Agreement on pipeline under Caspian Sea

Jul 14, 1997 02:00 AM

June 14, 1997 Amoco is at the point of commissioning a study into building a pipeline under the Caspian Sea from the Kazakh port of Aktau to the Azeri capital of Baku. The study would begin fairly soon, an Amoco source says.
An agreement on the pipeline was signed in Almaty on 10 June by President Nursultan Nazarbayev of Kazakhstan and his Azeri counterpart Haidar Aliyev.
>From Baku, the pipeline would eventually carry on to Turkey. Kazakh Oil President Nurlan Balgimbayev said construction of the pipeline would start in 2000 and take 3 years. Capacity would be just under 1 mm bpd. Other sources say the project would cost around $ 2.5 billion and have an initial capacity of 200,000 bpd.

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