Under the terms of the agreement, both countries will facilitate the “the necessary conditions for safe, efficient and unhampered transportation of oil through the territory of their countries”, including transit oil and oil belonging to third parties.

Furthermore, the two nations have agreed to hold regular exchanges of information on oil infrastructure issues, develop joint scientific/technical/investment ties, and conduct JV in construction, refurbishment and oil transport infrastructure in both countries and abroad.

As part of the deal, Ukraine will be given the opportunity to purchase Azerbaijani crude for the Odessa-Brody pipeline on “commercial non-discriminatory conditions”.