Statoil seeks to expand its ops in Azerbaijan
Norwegian oil and gas firm Statoil is interested in developing its position in Azerbaijan, President of Statoil Azerbaijan Lars Troen Sorensen told journalists on Friday, Trend news agency reported.
"Obviously, as a large international oil company producing 2 million barrels a day we would like to develop our position also in Azerbaijan. So if there is an opportunity, we would also like to join future [development of] oil fields," Sorensen said.
Sorensen stressed that Statoil has been in Azerbaijan for 20 years.
"We are partners in Azeri-Chirag-Guneshli (ACG ) field, we are partners in Shah Deniz project and we are currently negotiating to develop the Shah Deniz 2 project," Sorensen said.
Statoil entered Azerbaijan in 1992. It is the second largest foreign investor in the country. Statoil has invested more than $5 billion and is a partner with 8.56 percent share in the oil producing ACG field, the Shah Deniz gas field with $25.5 percent share, and the corresponding pipelines Baku-Tbilisi-Ceyhan (BTC) and South Caucasus Pipeline (SCP).
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!