The State Oil Company of Azerbaijan (SOCAR) may sell part of its shares in the Inam project if an available price is offered, SOCAR president Rovnak Abdullayev told Trend. According to Abdullayev, the financing of the investigation works on this project is realized by the partner-companies BP and Shell. Thus, SOCAR doesnt take investigation risks over the project, and this further increases the price of its share.
The Korean National Oil Company shows an interest in purchasing the share of SOCAR in the project. In August of this year, during the Korean-Azerbaijani business-forum scheduled for Baku, the Korean company will present its proposals to SOCAR regarding possible acquisition of part of SOCARs share in the Inam project.
The Korean Company has expressed its desire to achieve not less than 20% in 50-percent share of Azerbaijan in this project. At the moment, it studies geological-geophysical materials on this project, operator of which is BP.
During the official visit of Korean president to Azerbaijan a document was signed On mutual understanding in the cooperation between Azerbaijan and Korea in the sphere of developing the fields of Caspian Sea. The document was signed between SOCAR and the Korean Ministry of Natural Resources.
At the moment, within the contract on Inam field (in which the operator of the project BP takes 25%, SOCAR 50% and Shell 25%), the planning works are realized on the well INX-2. The drilling equipment Istiglal will be used during drilling INX-2.