Baku 14° C
Total and SOCAR to embark a joint company
Energy
- 01 June, 2017
- 09:07
Baku. 1 June. REPORT.AZ/ The French Total and the State Oil Company of Azerbaijan Republic (SOCAR) will create a joint company.
Report informs, Vice-President of Europe and Caspian Region Bernard Clement said at today's International Conference Caspian Oil&Gas 2017 in Baku.
According to him, this will be an innovation in Azerbaijan: "Total and SOCAR each will own 50% of shares of new company. The company will be created as part of the development of the first phase of the Absheron field. The work will last for 15 months".
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