BAKU, Azerbaijan, Oct.14
By Leman Zeynalova - Trend:
Azerbaijan’s state oil company SOCAR and Algeria’s Sonatrach company will revise their cooperation amid ending global COVID-19 pandemic, Trend reports with reference to SOCAR.
The agreement was reached during the meeting of SOCAR’s President Rovnag Abdullayev with Algeria’s Ambassador to Azerbaijan Salima Abdelhak. During the meeting, the envoy noted that Algeria is interested in expansion of cooperation between Sonatrach and SOCAR and to consider new opportunities for collaboration in Europe. Abdullayev pointed out that there are great prospects for cooperation in different spheres.
Abdelhak highlighted the importance of the Southern Gas Corridor and noted that Algeria is an experienced actor in European gas market and has relevant export infrastructure. Algeria supplies both pipeline gas and LNG.
Sonatrach is known today to be the largest company in Africa with 154 subsidiaries, and often referred as the first African oil "major". Sonatrach operates over 3,900 km (2,400 mi) of crude pipelines in the country. The most important pipelines carry crude oil from the Hassi Messaoud field to export terminals. Sonatrach also operates oil condensate and LPG pipeline networks that link Hassi R'mel and other fields to Arzew. Sonatrach is expanding the Hassi Messaoud-Azrew pipeline, the longest in the country. The project entails a second, parallel line that will more than double the capacity of the existing line.
SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, one oil refineries and one gas processing plant, a deep water platform fabrication yard, two trusts, one institution, and 23 subdivisions are operating as corporate entities under SOCAR.
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