BAKU, Azerbaijan, Oct. 24
Trend:
The Azerbaijani State Oil Company SOCAR and the Romanian State Gas Company SNGN Romgaz have signed a memorandum of understanding and cooperation in the field of exploration and production, Trend reports referring to SOCAR.
The purpose of the memorandum is to establish the strategic partnership in the development of Azerbaijan and Romania, as well as the projects that serve the common interests of the international community.
Director General of SNGN Romgaz Constantin Adrian Volintiru said that the work with a partner like SOCAR is an excellent opportunity to bring benefit to both companies and the exchange of know-how, technologies and experience between Azerbaijan and Romania having a similar history in the oil and gas industry will lead to the successful cooperation.
Some 43 filling stations operate in 20 Romanian regions under SOCAR brand. Presently, SOCAR's activity in Romania is associated with the retail trade of oil products.
SOCAR has launched its activity in the market of the retail sale of oil products in Romania since 2011. To date, the company has created about 550 job places in the country and invested more than 64 million euros in Romania.