Socar, ConocoPhillips sign onshore exploration deal
BAKU – Azerbaijani state oil company Socar has signed an agreement with US energy major ConocoPhillips on joint research within the pre-exploration onshore operations in Azerbaijan, Socar said on Monday.
The agreement was signed by Socar head Rovnag Abdullayev and ConocoPhillips Senior Vice President Larry Archibald during a visit of the US company's delegation to Azerbaijan.
Socar's oil and gas enterprises produced 7.28 million tons of oil and more than 7 billion cubic meters of gas in 2010.
Socar and its foreign partners are involved in such major energy projects as the development of the Azeri-Chirag-Gunashli block of oil and gas fields and Shahdaniz gas condensate field in the Caspian Sea.
Socar includes Azneft production association comprising companies producing oil and gas onshore and offshore, chemicals producer Azerkimya, and gas supplier Azerigas.
Socar is the only producer of oil products in the country and runs two refineries, and also owns gas-filling stations in Azerbaijan, Georgia and Ukraine. The company is also a co-owner of the largest Turkish petrochemicals complex Petkim. Socar Trading, a Socar subsidiary, carries out oil trade in regions around the world.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!