SOCAR, Petrobras mull prospects of cooperation
By Nigar Abbasova
Azerbaijan’s state energy giant SOCAR and Petrobras, a semi-public Brazilian multinational corporation in the petroleum industry, intend to study opportunities of the beneficial cooperation.
The issue was high on agenda during the meeting between the head of Brazil’s Chamber of Deputies, Rodrigo Maia, and Azerbaijan’s Energy Minister Natig Aliyev.
Maia mentioned that Brazil has big oil and gas potential and the country’s government is pursuing an open policy for foreign companies in the development of oil and gas fields.
Natig Aliyev, in turn, said that Azerbaijan is open for foreign investments, mentioning the importance of assessing prospects of cooperation between SOCAR and Petrobras, without limiting it only to Azerbaijan and Brazil, but also to study the possibilities of joint work in third countries.
He also added that Azerbaijan is ready for energy cooperation with Brazil, as oil and gas will remain to be the main resource in the global energy balance in the next 40 years.
Brazil earlier announced its plans to increase oil output in its fields. Petrobras Company is considered to be the main operator of a number of projects at the largest Brazilian oil fields.
SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, as well as oil and chemical products in domestic and international markets, and supplying natural gas to the industry and the public in Azerbaijan.
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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
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