President Ilham Aliyev: BP-SOCAR partnership an example for many countries today

Baku. 8 November. REPORT.AZ/ "Today, I would like to particularly stress activity of BP in Azerbaijan. BP is our partner for twenty-three years and plays very active role together with us in our leading projects. I'd like to say that about 700 million tons of oil out of totally extracted 2 bln tons have been produced in the period of independence, 460 mln tons of which was produced by the consortium.

Report informs, President of Azerbaijan Ilham Aliyev said at today's solemn ceremony held at the Heydar Aliyev Center in Baku marking the production of two billion tons of oil in Azerbaijan.

"Therefore, let the public become aware once again that how much foreign partners, especially BP, played a major role in the development of Azerbaijan and strengthening of economic potential of Azerbaijan. I want to say again that partnership between the state and foreign partners stands on its basis", the head of state added.

President stressed that BP-SOCAR partnership is an example for many countries today: "Contract of the Century, the contract signed and being implemented on "Shah Deniz" field also turned the State Oil Company into a major international company. That is, a few years ago, it was set aim by me to turn SOCAR into a major international oil company. We have expanded SOCAR activity for this purpose, a number of enterprises handed over to SOCAR. Today, the State Oil Company of Azerbaijan Republic carries out great activity both within the country and abroad. Our investments abroad estimated at billion dollars. About $ 20 billion is planned to be invested only in the projects in Turkey, about half of which have already been invested. SOCAR has very works, investment in other countries, European countries, close neighborhood. The Azerbaijani state supports activity of SOCAR. It increases our economic power as well as a large amount of currency flow from new sources will also be provided to us in the future. I would like to mention construction of two projects being implemented in the country - SOCAR polymer and carbamide plants. These two projects are of great importance in the development of the non-oil sector of our country. Both projects are being carried out on schedule and I am sure that they will be launched next year".