Azerbaijan, Baku, 24 June / corr Trend U.Ismayilova / StatoilHydro Azerbaijan company of Norway is intensifying its work with private Azerbaijani companies involved in the non-oil sector of economy, Christian Housken, StatoilHydro President, stated to the presentation of 'UN Global Agreement' project jointly with the Azerbaijani Export and Investment Promotion Fund (AZPROMO).
"The first stage of the project, which is to last one year, requires $100,000 to complete. This is a test period and its success could promote decisions on further stages," Housken said.
The major objective of the project is to familiarize the local companies with the UN global agreement and it will enable private companies to develop further and come out of the country.
Global Agreement was initiated by the UN Secretary general Kofi Annan in 1999, in order to demonstrate that the development of globalization should not continue in this way. It has a chance to unify the efficiency of private sector in opening new jobs and improving the living conditions. This is an attempt to reform the direction of debates concerning the worldwide development from conflicts to cooperation with the private sector, where it would have a role of engine for progress, in voluntarily adopted limitations. The global agreement envisages 10 principles of social responsibility.
Since the beginning of its operating in Azerbaijan (1992) by 2007 the Norwegian StatoilHydro has company invested $4.1bln in the country's economy within the framework of oil and gas projects. In 2007, investments in the Azerbaijani economy made up $0.7bln.
The company takes part in three large projects - Azeri-Chirag-Gunashli (8.5633% stock), Shah Deniz (25.5%), Araz-Alov-Sharg (15%).
StatoilHydro participates in the development of the Azerbaijani gas field Shah Deniz, acting as a commercial operator. The company is also responsible for gas sale within the framework of Stage 1 of Shah Deniz.
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