SOCAR and CNPC presidents hold a meeting

Baku. 7 July. REPORT.AZ/ Today, Rovnag Abdullayev, President of the State Oil Company of Azerbaijan Republic (SOCAR) has received a delegation led by President of the China National Petroleum Corporation (CNPC) Wang Yilin.

Report informs referring to the SOCAR.

Welcoming the guests, R. Abdullayev said that SOCAR and CNPC have a good cooperation and that contributes to the strengthening of inter-state relations. He noted that mutual visits and meetings provide favorable opportunities for further expansion of cooperation.

The meeting emphasized the Chinese President Xi Jinping's One Belt - One Road initiative and the importance of "Silk Road" Summit meetings within its framework. The contribution of Azerbaijan's oil and gas sector to this initiative was discussed. It was noted that the Azerbaijani side fully supports the active participation of Chinese investors and companies in the SOCAR GPC project.

Expressing gratitude for the warm reception and satisfied with his visit to Azerbaijan, Yilin noted that, Chinese and Azerbaijani leaders attach great importance to the expansion of economic relations between the two countries and the deepening of inter-company cooperation in this direction is of great importance. Noting the richness of Azerbaijan with natural resources and Baku as an ancient oil town CNPC is interested in developing cooperation with SOCAR in various fields.

He also said that CNPC has specifically up-to-date technologies and the application of these technologies to projects implemented in Azerbaijan can serve to the effective realization of the country's natural resources.

He also said that CNPC has specifically up-to-date technologies and the application of these technologies to projects implemented in Azerbaijan can serve to the effective realization of the country's natural resources. Reminding that the memorandum signed between the SOCAR and CNPC on the GPC project boosted the development of this project, Yilin said Chinese government attaches great importance to the GPC.

The participants watched a video about the GPC project in Chinese language. After the presentation, R. Abdullayev noted that the GPC is an important project that unites SOCAR and CNPC, but a great way has been achieved in this direction, but it should not be stopped, it is necessary to move forward. He said that SOCAR is ready for cooperation in areas interested by CNPC and spoke about favorable opportunities for foreign investors in our country.

Other issues of mutual interest were also discussed at the meeting.