Azerbaijan, Baku / corr. Trend / The Indian National Oil Company intends to co-operate with Azerbaijan in projects developed in the third-World countries.
Ranbir Singh Butolam the General Manager and Executive Director of ONGC Videsh Ltd., the Indian National Oil Company, made this statement in a meeting with the President of the State Oil company of Azerbaijan (SOCAR), Rovnag Abdullayev. ONGC Videsh Limited. is interested in closer cooperation with SOCAR in all fields of the oil and gas industry.
The President of SOCAR stated his company's readiness to co-operate with the Indian oil and gas companies in economically profitable projects.
ONGC Videsh Ltd. is a state-run company which controls 80% of production of energy resources in the country. ONGC Videsh Ltd is also active in 15 countries, where it implements drilling, exploitation and refinery. Azerbaijani played a considerable part in the establishing the company in the 1950s, Butola noted.