Rosneft, SOCAR eye prospects for co-op under future projects
By Gulgiz Dadashova
Azerbaijan and Russia enjoy great prospects for a long-term
cooperation in the oil sector, President of Russia's petroleum
industry leader Rosneft Igor Sechin said at a meeting with
President of Azerbaijan's energy giant SOCAR Rovnag Abdullayev.
Noting that SOCAR is one of the major companies in the region,
Sechin voiced hope that the two companies will further expand the
relations and bring it to higher level.
Abdullayev, in turn, said that this visit of the Rosneft delegation
will make a major contribution to the future cooperation between
the parties in the oil and gas sector.
Noting that both countries have huge experience in the oil and gas
sector, Abdullayev said that this will ensure the fruitfulness of
the cooperation.
The sides noted good opportunities for developing the bilateral
energy cooperation, stressing the importance of defining new
prospects to expand it.
The meeting also saw a presentation on the topic "SOCAR and
Rosneft: prospects for cooperation." The presentation featured the
activities of companies in Azerbaijan and Russia, as well as in
third countries.
There were voiced large potential for increased cooperation in the
framework of ongoing and planned projects and the need for joint
efforts towards the realization of these opportunities.
SOCAR is involved in exploring oil and gas fields, producing,
processing, and transporting oil, gas, and gas condensate,
marketing petroleum and petrochemical products in the domestic and
international markets, and supplying natural gas to industry and
the public in Azerbaijan. Three production divisions, two oil
refineries and one gas refinery, an oil tanker fleet, a deep water
platform fabrication yard, two trusts, one institution, and 22
subdivisions are operating as corporate entities under SOCAR.
The company owns gas stations in Azerbaijan, Switzerland, Georgia
and Ukraine. It has representative offices in Georgia, Turkey,
Romania, Austria, Switzerland, Kazakhstan, Great Britain, Iran,
Germany and Ukraine and trading companies in Switzerland,
Singapore, Vietnam, Nigeria, and other countries.
Rosneft ranks among the world's top publicly traded oil and gas
companies. The company is primarily engaged in exploration and
production of hydrocarbons, production of petroleum products and
petrochemicals, and marketing of outputs. The state holds 69.50
percent in the Company (through OJSC Rosneftegaz), while
approximately 10 percent of shares are in free-float.