BAKU, Azerbaijan, April 25. Investments of the Hungarian MOL oil and gas company in Azerbaijan's energy sector to date have amounted to $2 billion, Managing Director of MOL Azerbaijan Attila Somfai said during the 10th session of the Joint Commission on Economic Cooperation between the governments of Azerbaijan and Hungary, Trend reports.
"However, we hope to expand the volume of investments and our long-term cooperation,” he emphasized.
The managing director also briefed on the company's desire to expand its business in Azerbaijan and discussed possible projects with the State Oil Company of Azerbaijan (SOCAR).
Somfai also pointed out that MOL oil from the Azeri-Chirag-Gunashli (ACG) project goes to European plants, and this is important.
Hungary also buys Azerbaijani petroleum products and lubricating oils, he added.
To note, MOL is a participant in the ACG project for oil production in the Caspian Sea.
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