Baku, Azerbaijan, Jan. 16
By Leman Zeynalova – Trend:
Possibility of crude oil supply from Algeria to STAR Refinery, which was constructed by Azerbaijan’s state oil company SOCAR in Turkey, is under consideration, SOCAR told Trend.
The company said that it held a number of fruitful discussions with Algerian state oil and gas company SONATRACH and reached an agreement on signing a framework contract for supply of Azeri Light and other types of oil from SOCAR’s portfolio to SONATRACH Refinery, which is located in Augusta, Italy.
“The possibility of crude oil supply from Algeria to STAR Refinery and liquefied natural gas (LNG) from this country for SOCAR Trading’s portfolio is under consideration. As we said before, SOCAR Trading is engaged in crude oil supply to our STAR Refinery in Turkey. However, it is not interrelated with SOCAR Trading’s business in LNG trade,” said the company.
SOCAR also talked about the proposal to take part in modernization of a refinery in Indonesia.
“As for cooperation with the Indonesian company, we have asked Pertamina company to keep us updated on progress in the project of modernization of this company’s refinery, since this refinery is one of the major buyers of Azerbaijani oil,” said the company.
In September 2018, Azerbaijan and Algeria discussed expansion of cooperation between Algerian company Sonatrach and Azerbaijan’s state oil company SOCAR as part of the tenth meeting of the OPEC+ Joint Ministerial Monitoring Committee.
As part of this meeting, Azerbaijan’s Energy Minister Parviz Shahbazov met with Algeria’s Energy Minister Mustapha Guitouni and CEO of Sonatrach Abdelmoumen Ould Kaddour.
Mustapha Guitouni said that Azerbaijani companies express interest in the energy sector of Algeria.
Parviz Shahbazov noted that the Memorandum of Understanding between the relevant ministries of the two countries is close to completion, and he invited the energy minister of Algeria to Azerbaijan.
This is while issues of expanding cooperation between Sonatrach and SOCAR were discussed with Abdelmoumen Ould Kaddour.
During the meeting, cooperation was also discussed between SOCAR Trading and Sonatrach in the oil sector, as well as cooperation with the Neftqazelmitedqiqatlayihe Institute (SOCAR’s Oil and Gas Research and Design Institute).
The minister spoke about the importance of exchanging experience with Sonatrach on renewable energy sources.
In August 2018, Indonesia’s state-owned energy company, Pertamina, has approached Azerbaijan’s state oil company SOCAR and Japan’s JX Nippon for possible partnership to upgrade the country’s Balikpapan oil refinery.
Earlier, Eko Rukmono, Vice-President of Exploration and Evaluation of Upstream Directorate at Pertamina told Trend that the company has invited SOCAR to take part in explorations in the Asian country.
According to Rukmono, the two companies could successfully cooperate in the exploration of oil and gas in Indonesia.
"Indonesia enjoys huge hydrocarbons reserve. The country's estimated oil reserve is over 60 billion barrels, while gas reserves are estimated at the level of 30 trillion cubic meters of gas. Indonesia has 48 oil and gas basins, where geological exploration is needed. SOCAR may be useful for Pertamina, and we invite the Azerbaijani company to take part in the exploration in Indonesia," Rukmono said.
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