Socar eyes working on Canada’s stranded oil, gas reserves (UPDATE)
Details added (first version posted on 11:34)
Baku, Azerbaijan, Oct.29
By Maksim Tsurkov - Trend:
The State Oil Company of Azerbaijan is interested in developing oil fields in Canada, the company's president Rovnag Abdullayev told reporters Oct.29.
He said SOCAR has already established certain business relations with Canada.
"Our SOCAR Trading company actively operates in Canada," said Abdullayev. "We believe that there is a great potential for work both in trade and oil industry spheres."
"With this purpose, we are preparing to work there," SOCAR's president said, adding that the company's representative office will be opened in Calgary.
He added that the work plans of energy companies are undergoing certain changes due to the decrease in world oil prices.
"Canada has fields with large stranded oil and gas reserves," said Abdullayev. "I believe that we can be engaged in it."
SOCAR is the sole producer of oil products in Azerbaijan. It has two oil refineries and filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.
The company is the co-owner of the largest Turkish petrochemical complex, Petkim, and other assets in Turkey.
It includes production associations Azneft (the enterprises producing oil and gas onshore and offshore), Azerkimya (the chemical industry enterprises) and Azerigaz.
Edited by SI
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