SOCAR conducts presentation for Moody's Rating Agency

Oil&Gas Materials 9 December 2009 17:37 (UTC +04:00)

Azerbaijan, Baku, Dec.09 / Trend /

The State Oil Company of the Azerbaijan Republic (SOCAR) conducted a presentation for the Moody's International rating agency to obtain an international rating, SOCAR said.

SOCAR President Rovnag Abdullayev said during the presentation that Azerbaijan has become a major participant to ensure Europe's energy security. The company carefully studies all proposed projects, and preference will be given safest and most profitable projects among them, he said.

Exploring and drilling operations were launched in several structures in the Caspian Sea and as a result of the these operations the amount of proven gas reserves in Azerbaijan will increase in the near future, Abdullayev said .