Azerbaijan not to conduct exploration in Mediterranean (UPDATE)
Details added (first version posted on 11:42)
Baku, Azerbaijan, Nov. 4
By Emil Ismayilov - Trend:
Azerbaijan's State Oil Company (SOCAR) has no agreements with Turkey on conducting hydrocarbons exploration in the Mediterranean Sea, SOCAR told Trend Nov. 4.
Previously, Greek media outlets reported that Azerbaijan will jointly with Turkey hold exploration of hydrocarbons near the coast of Cyprus, which is the third largest island in the Mediterranean Sea.
SOCAR representatives said the issue of joint hydrocarbons exploration is not being considered today.
Turkey is a key partner of Azerbaijan in the energy sector. The two countries, in particular, are linked by the Baku-Tbilisi-Ceyhan oil pipeline and the South Caucasus Pipeline.
As part of the delivery of Azerbaijan's gas to the European market, it is planned to build the Trans Anatolian Natural Gas Pipeline (TANAP), which will supply gas to Turkey's border with Europe.
SOCAR, for its part, is represented in Turkey by a separate division and is the co-owner of Turkey's largest petrochemical complex Petkim. A new oil refinery will be built to supply this complex with raw materials.
It is also planned to build a new power plant and develop a container port near Petkim, as part of this complex's development.
SOCAR includes production associations Azneft (enterprises producing oil and gas on land and sea), Azerkimya (chemical industry enterprises) and Azerigas (deals with transportation, distribution and sale of natural gas in Azerbaijan).
The company also includes a number of processing and service enterprises, and institutions involved in geophysical and drilling operations.
SOCAR is the sole producer of oil products in Azerbaijan, with two oil refineries, and also owns petrol stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.
Edited by SI