SOCAR will establish a direct sales office in London by this year's end.
Vice-President Elshad Nasirov says the process of tax, administrative and staff issues are under way. "Registration process doesn't take long time," he added.
The state-owned company also intends to open an office in Greece. The aim of establishing representative offices abroad is to penetrate the international market. The group has already opened its offices in Georgia and Romania.
Besides, SOCAR purchased Kulevi Terminal on the Black Sea (Georgia) to expand oil shipments.
The company president Rovnag Abdullayev says they have received favorable syndicated loans from the international banks for reconstruction works in the terminal.
"We are deeply interested in Georgia’s market. Kulevi Terminal will open our way to the Black Sea," says Abdullayev."
"We plan to start operations at the terminal in the second quarter. The annual capacity of 10 million tons in the first phase, and reaching 20 million tons per year later," he underscores.
The company will also build a refinery at Kulevi. The capacity of the refinery will be 5 million to 10 million tons of oil annually. Some 300 hectares will be allotted to the construction. Azerbaijan is supplying 75% of Georgia’s oil imports. New refinery in Georgia will reduce transport expenses and cost price of oil products. APA
SOCAR to have new building
A site has been allotted in Heydar Aliyev Avenue to construct a new building for the State Oil Company of Azerbaijan (SOCAR). Leading companies of France, Italy, the UK, South Korea, Turkey and Azerbaijan were involved in architectural designing (engineering) of the building.
SOCAR told APA-Economics that the building will be constructed on the basis of the architectural style proposed by South Korea's Heerim Architects & Planners Co. Ltd.
The building is slated to be 149.4 meters high, 59,102 sq. m and to accommodate more than 2,000 employees. The building will have 2 underground and 35 overhead floors and will be constructed by local builders under supervision of Heerim Architects & Planners Co. Ltd.
New gas well to be brought online in Guneshli Field
SOCAR's Bayil Port Sea Exploration Drilling Department has handed over well #74 to 28 MAY Oil and Gas extraction Unit.
The 3,500 meter-deep well produces between 120,000 and 150,000 cubic meters of gas a day. The well has been connected to the high pressure pipeline. Well #75 will be brought online in platform #19 in a few days. Within bringing the well online, Guneshli Filed will beat daily 11mln cu m gas output.Romania attaches great interest to Nabucco project, Iliescu says
There are three important energy regions in the world: Persian Gulf, Russia reserves and the Caspian Sea.
"There is a direct rout which passes to Black Sea via Georgia and then to Romania. But US wants this line to pass from the south, Russia from the north. It is suggested to construct Baku-Tbilisi-Erzurum gas pipeline till Europe passing from Turkey through Nabucco project. We attach great interest to Nabucco project," former Romanian President Ion Iliescu said in Baku, APA-Economics reports.
The former president also noted that the relations on energy between Azerbaijan and Romania are very important.
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