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SOCAR, CNPC agree on future cooperation

1 June 2016 17:56 (UTC+04:00)
SOCAR, CNPC agree on future cooperation

By Nigar Abbasova

Azerbaijan’s state energy giant SOCAR and China National Petroleum Corporation (CNPC) have signed a memorandum of understanding (MoU) on cooperation in the oil-gas and petrochemical spheres.

The document was signed by SOCAR President Rovnag Abdullayev and CNPC Vice president Wang Shihong on June 1.

The signing of document was held within the visit of the member of the Politburo Standing Committee of the Communist Party of China, Senior Vice Premier of the State Council of China Zhang Gaoli.

Also an agreement between the Azerbaijani and Chinese governments on technical and economic cooperation was signed. The document was signed by Azerbaijan's Deputy Prime Minister Abid Sharifov and China's Vice Minister of Commerce Zhong Shan.

The signing of documents was held with the participation of Azerbaijan's Prime Minister Artur Rasizade and Senior Vice Premier of the State Council of China Zhang Gaoli.

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.

CNPC began to provide oilfield services in Azerbaijan since 2003. Being China's largest oil and gas producer and supplier CNPC operates and develops oilfields in Azerbaijan as well as provides oilfield services in the country.

With its headquarters in Beijing, CNPC is one of the world's major oilfield service providers with its presence in almost 70 countries.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

Follow us on Twitter @AzerNewsAz

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