Azerbaijan, Total and Samsung Enjineering talks coming to an end

SOCAR President Rovnag Abdullayev: We are on the eve of adoption of final investment decision on the project

Baku. 28 April. REPORT.AZ/ Negotiations of the State Oil Company of Azerbaijan Republic (SOCAR) with French Total in connection with the project of development of prospective "Absheron" structure in the Caspian Sea go on.

Report informs, the President of SOCAR Rovnag Abdullayev said: "Negotiations are going according to plan, a working group acts on this issue."

According to Mr.Abdullayev, the project is in a final stage: "Total is already preparing a development program. We are on the eve of adoption of the final investment decision on this project."

Along with this, the head of SOCAR said that, the negotiations for the construction of a carbamide plant construction project in the oil and gas and petrochemical industry are also in the final stages: "We are discussing the financing of the Korean Export Bank. Most likely, the end of the year we will come to an agreement. Manufactured major financial expenses, and missing for carbamide plant construction funds will be allocated from the budget. However, because of the budget deficit is to be made in the form of project financing. We have already received an indication. We are working with Samsung and export of Korean banks, the negotiations are in the final stage. In the future, to obtain financing for the project can be from Korea."

In 2013 SOCAR and Samsung Enjineering signed a contract to build a plant for the production of nitrogen fertilizers and urea. According to the results of the tender, Samsung Enjineering was elected the main partner in the project.

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