Vice-President of Itochu: Itochu Wants to Extend Its Share in Large-Scale Oil Projects of Azerbaijan
Japan Itochu Corporation has declared the plans on expanding its activity in Azerbaijan. Yokota Akira, Vice-President of Itochu told Trend that the Company has plans on extending its share in the project on the development of Azerbaijani block of fields Azeri-Chiragh-Gunashli(ACG) and pipeline Baku-Tbilisi-Ceyhan (BTC).
At present, the Company share in ACG project is 3,9%, and 3,4% - in BTC.
If possible, we would like to extend our shares (in the oil projects Trend), he said.
Mr. Akira also said that at present the Company was negotiating within the project on the development of gas condensate field Shahdaniz.
We are not ready to give an answer yet. The project requires many investments, and the Company could not participate in it alone, therefore, it is necessary to make up consortiums and determine shares of investments like in ACG and BTC projects, said the Vice-President of the Japanese Company.