The President of the State Oil Company of Azerbaijan (SOCAR), Rovnag Abdullayev held a meeting with the Executive Vice President for Exploration and Production of the American Conoco Phillips for Europe, Asia, Africa and Near East, William Berry, Trend reports with reference to the statement of the SOCAR. According to Mr. Berry, Conoco Phillips has allocated $250 mln to the development of the Azerbaijani economy. He expressed his satisfaction with the co-operation and highlighted the necessity of preparing the action plan for the future development of the co-operation. The Company awaits concrete proposals from Azerbaijan. According to Mr. Abdullayev, the SOCAR prefers more proposals in relation with the foreign companies. The representative of Conoco Phillips invited the SOCAR President to visit the USA. In addition, debates were organized on the project Umid-Babek, where the Company participates.
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