BAKU, Azerbaijan, May 12
By Jeila Aliyeva - Trend:
Turkmenistan and the Azerbaijani SOCAR company have a huge potential for developing cooperation, said.
This was stated by President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev during the International Forum on attracting foreign investments to the oil and gas sector of Turkmenistan.
He noted that the Southern Gas Corridor (SGC), which has already been fully put into operation, presents new opportunities in the development of cooperation.
A number of joint agreements were also highlighted, in particular the Memorandum of Understanding on Joint Exploration, Development and Development of the Dostluk hydrocarbon resources in the Caspian Sea.
Earlier, SOCAR Trading, which is a trading arm of Azerbaijan’s state oil company SOCAR, will purchase around 2 million tons of oil from Turkmenistan in two years.
SOCAR confirmed the information.
Reportedly, SOCAR Trading won the tender of Malaysian Petronas company for purchase of crude oil produced from Turkmenistan’s Kiyanly field.
The relevant contract has been signed for two years and is extendable in the future.
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