Baku, Azerbaijan, Sept. 25
By Ilkin Shafiyev – Trend:
Malaysia External Trade Development Corporation (MATRADE) intends to present in the Caspian region, in particular in Azerbaijan and Central Asia, the capabilities of domestic companies in the oil and gas sector, the foreign media outlets reported.
To this end, the MATRADE mission will be in Baku until September 26. During September 26-28, the delegation will visit Kazakhstan, where it will take part in the international "Oil and Gas" exhibition and conference.
The mission consists of about 15 Malaysian companies presenting products and services in the field of engineering, system integration, pipeline construction and equipment production.
"The exhibition will be an ideal platform for expanding the business opportunities of Malaysian companies in the region. We are confident in a good result, especially since such initiatives in the past have already led to significant success," the media quoted MATRADE Deputy Chief Executive Director Datuk Wan Latiff Wan Musa as saying.
The Malaysian state oil company Petronas owns a 15.5 percent stake in Azerbaijan in the project of development of the Shah Deniz gas field and in the South Caucasus Pipeline Company Limited consortium.
In September 2016, the Azerbaijani state oil company SOCAR and Petronas company signed a Memorandum of understanding on the exploration, development and production of hydrocarbons on the block, which is part of the potentially promising Goshadash structure.
However, after conducting technical and commercial evaluations, the Petronas company decided not to continue negotiations on the development of the block. Currently, the company is not involved in new projects in the oil and gas sector of Azerbaijan.
---
Follow the author on Twitter: @IlkinShafiyev