SOCAR to expand activities in West Africa
By Nigar Abbasova
Azerbaijan’s energy giant SOCAR may soon expand its activities in the West African countries.
The company reported that it may consider the possibility of constructing an oil terminal in Cotonou, the largest city and economic center of Benin.
Azerbaijani delegation led by Energy Minister Natig Aliyev is on its visit to Burkina Faso and Benin at the invitation of the two countries’ governments.
During the meetings held within the visit the sides discussed the expansion of ties between fuel-energy complex of Azerbaijan and West African countries.
SOCAR Vice President on Investment
and Marketing Elshad Nasirov, Chairman of Azerkimya Mukhtar Babayev
and head of SOCAR Trading Arzu Azimov held talks with the president
of Burkina Faso Roch Marc Christian Kaboré and the sides hailed the
importance of bilateral relations.
The cooperation between SOCAR and SONABHY (State Oil Company of Burkina Faso) was high on agenda during the meeting with Burkino Faso’s Prime Minister Paul Kaba Thieba. The sides discussed implementation of concrete joint projects, supplies of oil production to Burkina Faso, as well as a number of infrastructure projects.
The delegation earlier held meeting with the president of Burkina Faso’s Parliament Salifou Diallo, who expressed the interest of his country in developing mutual relations with Azerbaijan, in particular, in the energy sphere.
The visit is expected to create perspectives for the supplies of Azerbaijani oil and oil production to the markets of West Africa, implementation of energy projects. Moreover, it will strengthen prestige of Azerbaijan and activate commercial operation of SOCAR in the region.
SOCAR expanded its presence in Africa in 2015 by buying a 20
percent stake in Benin's Octogone Stockage de Produits Petroliers
that engaged in crude storage. The project became the first direct
investment
of the SOCAR in West Africa.
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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
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