MOL Group invests $2 billion in Azerbaijan’s oil and gas sector

Oil&Gas Materials 1 June 2023 13:27 (UTC +04:00)
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, June 1. MOL Group has invested $2 billion in the oil and gas sector of Azerbaijan, Executive Vice-President of MOL Group Zsombor Marton said during the Baku Energy Week, Trend reports.

According to him, the company has invested in the Azeri-Chirag-Deepwater Gunashli (ACG) project.

"We see the potential for long-term cooperation with Azerbaijan. Our refineries today can choose which oil to process, including high-quality Azerbaijani oil," he said.

Marton said that MOL Group believes in long-term cooperation with Azerbaijan not only within the framework of the ACG project but also in a number of other areas.

According to him, this includes the exchange of experience and expertise in the field of recycling of household waste and recycling.

The Baku Energy Week is taking place in the capital of Azerbaijan, combining three prestigious events under one brand, from May 31 to June 3.

The 28th International Caspian Oil&Gas Exhibition (Caspian Oil & Gas) and the 11th Caspian International Power and Green Energy Exhibition (Caspian Power) are being held within the framework of the Baku Energy Week.

Baku Energy Week is traditionally held with the support of the Ministry of Energy and SOCAR.