Global financial crisis does not affect major int'l projects: SOCAR
Azerbaijan, Baku, Feb. 23 / Trend , S.Aliyev/
The global financial crisis will not affect major international projects by the State Oil Company of the Azerbaijan Republic (SOCAR), SOCAR President Rovnag Abdullayev said on Feb. 23.
"[The global crisis] will not affect major international projects - particularly the Petkim petrochemical complex in Turkey. The project is being successfully implemented," he said.
Abdullayev did not rule out that Azerbaijani companies may postpone or delay domestic projects due to the crisis.
"This concerns SOCAR environmental projects," Abdullayev said.
SOCAR implements a number of infrastructural and social projects in Azerbaijan.
The projects include increasing gas production, maintaining stable oil production, exploring drilling areas and establishing regional medical and health centers.
SOCAR has a share in the Turkish petrochemical holding Petkim. The company intends to build a refinery to provide the holding with raw materials.
SOCAR has a terminal in Kulevi on the Black Sea coast of Georgia and owns a network of gas stations and manages gas distribution networks in the country.
SOCAR intends to purchase a share in the Turkish construction holding Tekfen.
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