Azerbaijan, Baku, Nov.11 / Trend, E. Ismayilov /
The State Oil Company of Azerbaijan (SOCAR) and Norway's Statoil plan to consider a new level of cooperation, SOCAR head Rovnag Abdullayev said on Friday.
Mr Abdullaev did not specify the possible type of cooperation, stressing only that Statoil has projects in the North Sea, whilst SOCAR works on major projects in the Caspian Sea.
He said today that talks to enhance cooperation between the two companies were helping them find common ground.
Statoil is active in the Azerbaijani market. It is a partner in a number of major energy projects in Azerbaijan, such as the development of the Azeri-Chirag-Guneshli and the Shah Deniz fields, as well as the South Caucasus gas pipeline and the Baku-Tbilisi-Ceyhan oil pipeline.
In turn, SOCAR has become more active in international markets, particularly in Europe in recent years where the system of retail sales of oil products is actively developing.