Azerbaijan, Baku, May 26 / Trend /
The Azerbaijani Socar Trading (the daughter company of the State Oil Company of the Azerbaijan Republic (SOCAR) has opened an office in Singapore to provide term contracts with oil supplies, Reuters quoted Socar Trading Chief Executive Valeriy Golovushkin.
Socar Trading opened the central office in Geneva last year, Golovushkin said.
"The Singapore-based office will develop contracts and cooperate with Asian companies. Logistic possibilities, like a depository in the South Korea, are very important," Golovushkin said.
SOCAR has not announced the number of people to the office.
"We form a staff," Golovushkin said.
The Singapore-based office will develop long-term cooperation with Asian companies that may lead to creation of joint ventures, he added.
SOCAR has offices in Turkey, Ukraine, Romania, Kazakhstan, Georgia, Austria and Great Britain.