SOCAR and Total ink framework agreement

Baku. 21 November. REPORT.AZ/ Today, Rovnag Abdullayev, President of the State Oil Company of Azerbaijan Republic (SOCAR) has received a delegation led by CEO of French Total, Patrick Pouyanné.

Report informs referring to the SOCAR, R. Abdullayev greeted guests and company congratulated the management of Total with its 20th anniversary, and wished them greater success in the future.

He has talked about the fruitful cooperation between SOCAR and Total and emphasized the role of two companies participating in oil and gas projects in regional and international energy security.

It was stressed that Total has an important position in the global oil and gas industry and one of the first foreign energy companies operating in Azerbaijan and international investors invested in country's oil and gas industry.

High level of successful cooperation between SOCAR and Total continues.

Geological exploration and drilling works continuing in " Absheron "gas-condensate field, evaluation of technical and economic parameters of the field, development of program for start of production is very good example of this cooperation.

Expressing gratitude for the warm reception CEO of Total Patrick Pouyanné said they are interested in continuing relationship and see broad prospects for development of cooperation.

He said they carefully follow the progress of the projects in Azerbaijan, researching new investment opportunities and will continue to invest in oil and gas operations in Azerbaijan.

During the meeting the desire to make the maximum use of its opportunities and participate in other oil and gas projects in Azerbaijan, including the "Umid" field and "Babak" was expressed.

At end of the meeting, framework agreement on principles governing the development program of "Absheron" project was signed between SOCAR and Total.