Weekly economic review (06.06.11 - 11.06.11)

Analysis Materials 15 June 2011 11:04 (UTC +04:00)

From 7-10 June, Baku Expo Centre hosted the biggest oil and gas event in the Caspian region - Caspian Oil & Gas 2011, the 18th International Caspian Oil & Gas Exhibition and Conference Incorporating Refining & Petrochemicals. Every year, the exhibition and conference bring together under professionals and major players from the world's oil sector. The exhibition and conference are attended and supported by the government.

The prestige of the exhibition is confirmed by the annual participation of the President of Azerbaijan, His Excellency Ilham Aliyev, in the opening ceremony. Each year, welcome letters are sent to the exhibition by the leaders of a number of countries. Traditionally, support for the Caspian Oil & Gas exhibition is provided by the Ministry of Industry and Energy of the Republic of Azerbaijan and State Oil Company of the Azerbaijan Republic (SOCAR). For six years, the exhibition has held "UFI Approved Event" status.

The recognition of the UFI (the Global Association of the Exhibition Industry) confirms that Caspian Oil & Gas meets international standards. This year the Exhibition has been granted by "Brand Award Azerbaijan 2010" in the nomination of "Brand of the year- Exhibitions in Azerbaijan".

Caspian Oil and Gas 2011 exhibition collected about 285 companies from 27 countries, including representatives from the production and management of every area of the oil and gas industry, representatives of oil and petroleum products transportation, environmentalists and scientists. Over 40% of the exhibition space was taken by globally known companies, most of which are regular exhibitors at Caspian Oil & Gas.

Among the sponsors of the Exhibition are the following companies Baku White City, BP Azerbaijan, Caspian Geophysical, Caspian Pipe Coatings, Conoco Phillips, Cross Caspian Oil and Gas Logistics, DEPA, Edison, Fluenta, GDF SUEZ, Inpex Corporation, McDermott Caspian, Nobel Oil, OMV, RWE, SOCAR, Statoil, Salans, TAP, Total E&P Azerbaijan and Volgaburmash, JSC. Thus the growth of the exhibition amounts to 25% compared to last year.

The partners of exhibition in 2011 were companies Azerfon-Vodafone, AZAL, Greenwich Travel Club, Caspel and the hotel "Kavkaz Point.

Exhibition was organized by the British ITE Group PLC and its partner in the Caucasus - Iteca Caspian. The work on the project also involved partners of ITE Group plc - Iteca Caspian LLC (Azerbaijan), ITE LLC Moscow (Russia), EUF (Turkey), GIMA (Germany), ITE China (PRC), ITE Gulf (UAE), actively involving international companies to participate in the Azerbaijani exhibition.

Despite its long existence, Caspian Oil & Gas continues to be at the centre of attention of the oil and gas elite. The successful policy pursued by the country in recent years in the field of oil and gas production and diversification of hydrocarbon transportation routes, and the potential participation of Azerbaijan in major oil and gas projects, underline the interest in Caspian energy resources and the growing role of Azerbaijan in regional and global energy security. In this regard, the exhibition and conference are of vital importance as an annual meeting place for long-term partners and investors, and for the demonstration of high-tech equipment and detailed, professional discussion of the development of the oil and gas industry in the Caspian region.