Azernews.Az

BAKU – Caspian Oil and Gas, the region’s leading oil and gas industry event that draws companies from around the world every year, will kick off in the Azerbaijani capital Baku on Tuesday.

Edward Stroon, Regional Director of the UK-based ITE Group, the event organizer, told a press conference Monday that 285 firms from 27 countries, including national groups from Britain, Russia, Turkey and Germany, are joining the exhibition this year. The number of participants at the 18th Caspian oil and gas exhibition and conference has increased 25 percent in comparison with last year, Stroon said.

"The number of local companies has also increased, accounting for 38 percent of all participants, while newcomers will make up 12 percent of the participants," Stroon said.

Malaysian Petronas, the Netherlands-based Mammoet, UK’s DK Jones Ltd and Shipham Valves are among companies participating in the exhibition for the first time.

Nigar Muradkhanly, manager of the Caspian oil and gas conference, said the event will be attended by VIPs from a number of countries, including Crown Prince Haakon of Norway, EU Energy Commissioner Gunther Oettinger, US Secretary of State for Eurasian Energy Richard Morningstar, Georgian Energy Minister Alexander Khetaguri, and Norwegian Energy Minister Ola Borten Moe.

Muradkhanly said that on the second day of the exhibition, the Caspian oil and gas conference will begin at the Hyatt Regency hotel in Baku. Over 500 delegates from 30 countries are expected to attend. The conference will discuss issues including European energy security and Azerbaijan’s role in it, the country’s attractiveness for investments and developing domestic exploration and production of energy resources.