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SOCAR develops comprehensive development plan until 2026

Oil&Gas Materials 11 May 2016 21:09
Azerbaijan’s state oil company SOCAR has developed a comprehensive development plan until 2026.
SOCAR develops comprehensive development plan until 2026

Baku, Azerbaijan, May 11

By Maksim Tsurkov - Trend:

Azerbaijan's state oil company SOCAR has developed a comprehensive development plan until 2026, Tofig Gahramanov, SOCAR's vice president of strategic development, said.

He made the remarks at the business forum with participants of the Caspian European Club on May 11.

Gahramanov said that the plan covers several areas.

"The main direction is gas projects, which are being implemented," he said adding that meanwhile, a great attention was paid to the process of refining and petrochemistry.

The vice president also noted that the plan was prepared in cooperation with the global audit company PWC.

"The implementation of oil projects, including the development of the Azeri-Chirag-Guneshli block of oil and gas fields, as well as the exploration at potentially promising structures located onshore and in the shallow waters of the Absheron Peninsula, are also important," said Gahramanov.

SOCAR also intends to continue to expand its international ties, to implement projects on ecology and training professional staff.

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