Baku, Azerbaijan, Sept.20
By Emil Ismayilov - Trend:
Total investment volume in the oil and gas sector of Azerbaijan made by companies participating in the projects in the country reached $54.4 billion, the head of SOCAR (State Oil Company of Azerbaijan) Rovnag Abdullayev said in an interview with the website of the Yeni Azerbaijan ruling party published Sept.19.
At present, SOCAR and its affiliates cooperate with 25 companies from 15 countries within the framework of 18 PSAs (Production Sharing Agreement), he said.
He went on to add that also some 37 joint ventures and 7 alliances established by SOCAR and its structural subdivisions together with the foreign companies are represented in almost all areas of the oil and gas sector of the country.
SOCAR is developing a number of both onshore and offshore fields jointly with foreign companies. In particular, Azeri-Chirag-Guneshli oil and gas field block and Shah Deniz condensate field are developed in collaboration with foreign partners.
SOCAR includes Azneft (onshore and offshore oil and gas producing companies), Azerkimya (chemical industry) and Azerigas production associations. In addition, the State Oil Company has a number of processing enterprises, service enterprises, institutions involved in geophysical and drilling operations.
SOCAR is the only oil producer in Azerbaijan (it has two refineries on its balance), and also owns petrol stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland. SOCAR is a co-owner of the largest Turkish petrochemical complex Petkim and other assets in Turkey.