SOCAR and LUKOIL eye expanding co-op
BAKU, Azerbaijan, Nov. 25
By Sadraddin Aghjayev - Trend:
A meeting between President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev and President of the Russian LUKOIL company Vahid Alakbarov was held on November 24, Trend reports citing SOCAR.
The meeting was attended by SOCAR Vice President for Investment and Marketing Elshad Nasirov and Head of SOCAR Investment Department Vagif Aliyev.
The parties discussed issue on long-term cooperation between LUKOIL and SOCAR, highly appreciated LUKOIL’s participation in the projects of Azerbaijan, as well discussed further cooperation in the ‘Nakhchivan’ and ‘Goshadash’ structures.
Alakbarov noted his interest in expanding existing cooperation, as well as the possible participation of LUKOIL in other projects in the field of oil and gas exploration and production in Azerbaijan.
PJSC LUKOIL has been operating in the Azerbaijani oil-and-gas industry since 1994, when the company joined its first international development project for the Azeri-Chirag-Gyuneshli oil field, one of the largest in the Azerbaijani sector of the Caspian Sea. LUKOIL was the first among Russian major business enterprises to start operations in Azerbaijan.
The company is presently involved in the development of Shah-Deniz, a gas condensate field in the Azerbaijani water area in the south-western Caspian Sea. Shah-Deniz is one of the largest and most capital-intensive oil and gas projects globally.
Since 1995, LUKOIL has been developing its own marketing network of world-class fuelling complexes in Azerbaijan. The company also owns a petroleum depot capable of transhipping 120 ths. tons of petroleum products annually.
(1 USD = 1.7 manat on Nov. 25)
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