BAKU, Azerbaijan, September 9
By Jeila Aliyeva - Trend:
Malaysian PETRONAS has contributed 10,000 manat ($5,882) to the Coronavirus Response Fund, Ambassador of Malaysia to Azerbaijan Dato’ Yubazlan Yusof told Trend.
“In Azerbaijan, PETRONAS as one of the co-ventures in the Shah Deniz Consortium has continuously supported the Operator to carry out all necessary measures to mitigate the impact of COVID-19 on the operations in Shah Deniz to ensure it is continue to run safely and efficiently across the value chain,” added the ambassador.
The ambassador added, that PETRONAS is working closely with the relevant authorities on the necessary requirements during this COVID-19 pandemic, and will continue to exercise strict compliance to the Health, Safety, Security and Environment (HSSE) standards and best practices.
Overall, talking about the PERONAS operation in Azerbaijan, the ambassador added that PETRONAS is actively involved in Azerbaijan’s oil and gas industry.
“The company has acquired 15.5 percent stake in the Shah Deniz II production sharing agreement operated by a consortium of companies, 15.5 percent share in the South Caucasus Pipeline Company (SCPC), 15.5 percent share in the SCPC holding company, and 12.4 percent share in the Azerbaijan Gas Supply Company (AGSC). Total expenditure by PETRONAS in Azerbaijan thus far is estimated at $5 billion,” he added.
As a stakeholder, PETRONAS role is to manage its stakes while working together with the other concessionaires to ensure the success of the project.
“We are excited and looking forward for the completion of the Southern Gas Corridor (SGC) which is in the final stage of completion, expected to be ready this year,” highlighted the ambassador.
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