Baku on Thursday opened the Azerbaijani-British oil and gas partnership forum with participation of SOCAR President Rovnag Abdullayev and President of the corporation BP in Azerbaijan, Georgia and Turkey, Gordon Birrell.
Mainly the forum focused on the field of petroleum engineering cooperation, which involves the parties - Azerbaijan is interested in investments and technologies, and Britain in the placement of their orders and investments abroad.
"We offer British companies to implement joint projects with Azerbaijani companies for petroleum engineering in order to further expand local production in the oil and gas industry, said Deputy Minister of Economy and Industry of Azerbaijan Sahil Babayev.
The forum is attended by representatives of 100 companies from both sides.
Britain ranks first in overall investments in Azerbaijan, and in investments in the oil and gas sector it is in the second place. The total volume of British investments amounted to $ 21 billion, of which non-oil - $ 1.3 billion.
In the early 2000s, working in Azerbaijan in the oil sector, British companies offered official Baku to create conditions for the reinvestment of the British capital, earned in the Caspian Sea, in the non-oil sectors. At the same time, considering the tax and customs spheres imperfect, the British offered to protect their investments by special laws, as in the example of the oil contract Azeri-Chirag-Guneshli. The idea was advocated by the company Remco. However, their proposals did not find understanding among senior management in Azerbaijan. Time has been lost. -0-
Economics
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