BAKU, Azerbaijan, Jan. 24
By Anastasia Savchenko – Trend:
Russia’s RussNeft company produced 504,000 tons of oil in Azerbaijan last year, a source in the company told Trend Jan. 24.
The source also noted that the company’s plans for oil production for 2019 were justified. According to the company's early forecast, the production should've been 500,000 tons of oil.
“We are interested in participating in joint projects with Azerbaijan,” the source added.
In 2014 RussNeft acquired a 100-percent stake in GEA Holdings Limited (GEA). Through its subsidiaries and joint ventures, GEA participates in projects on oil development and production in Azerbaijan on the basis of production sharing agreements (PSA) concluded with Azerbaijan’s state oil company SOCAR.
The Azerbaijani assets of RussNeft include Zigh-Hovsan, Kurovdag, Mishovdag-Kelameddin, Padar and Neftchala fields.
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