Korean companies could be participants in the development of Azerbaijan fields such as Umid-Babek, as well as in the process of investigating prospective facilities of Afshari and Karabakh, the Head of the Department of Investment Policy & Reconstruction of Industrial Enterprises of the Ministry of Industry & Energy of Azerbaijan Ramiz Rzayev stated on 29 August, Trend reports.
Also the Korean companies may take part in the projects of increasing the oil production in the Country, construction of gas infrastructure, electric power stations, substations, distributing-networks and modernization of oil refineries
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The renewable energy sources may be one of the interesting energy spheres for Korean companies.
According to Rzayev, at the moment, the potential of production of electric power of Azerbaijani hydro-electric power stations is reported at nearly 40 billion kVt annually. Projects are being prepared for the creation of approximately 100 hydro-electric power stations.
In addition, the wind from 5 to 20 meters per second is observed in Azerbaijan within 2,700-3,000 hours a year. The potential capacity of producing this type of energy equals nearly 800 mWt 4 bln. kVt annually. Azerbaijan, compared to many other Countries, enjoys bright weather and possesses possible electric power sources such as thermal water and biomass.