Petronas says Azerbaijan enjoys good business opportunities
By Aynur Karimova
Azerbaijan is a country with good business opportunities, Zainal Abidin Zainudin.
Malaysian Petronas Company's Country Head for Operations in Azerbaijan made the remark while talking to Trend.
“The cooperation with Azerbaijan is at a very good level,” Zainudin said adding that the company gets support from the country’s government. “The company intends to continue doing business in the country."
Zainudin also noted that Petronas may be interested in cooperating with Azerbaijan's state energy giant SOCAR in other fields.
SOCAR and Petronas signed an addendum to the memorandum of understanding on September 4.
Currently, Petronas has a 15.5 percent share in the project of development of Azerbaijan's giant Shah Deniz gas condensate field in the Caspian Sea and the South Caucasus gas pipeline. It also owns a 12.4 percent stake in the Azerbaijan Gas Supply Company.
Petronas redeemed these shares from Norwegian Statoil Company, which also announced its decision to sell a 20 percent stake in the Trans-Adriatic Pipeline, estimated at about $400 million.
Earlier, some media outlets reported about Petronas’s intention to acquire Statoil’s share in TAP.
However, SOCAR President Rovnag Abdullayev has told journalists that Petronas has not appealed to the company regarding the acquisition of a share in TAP.
Petronas, established in 1974, conducts business in 35 countries. Currently, Petronas ensures about 40 percent of incomes in the country. The company has turned into an internationally recognizable symbol for the country.
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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova
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