Royal Dutch Shell Takes Its Subsidiary from Azerbaijan

Royal Dutch Shell PLC (Netherlands - United Kingdom) closes its office in Azerbaijan.

According to the Ministry of Taxes, the abolished subsidiary of the oil and gas giant is called Shell Business Development Central Asia B.V. Within 2 months, claims of the creditors will come, after which it will leave the market.

Most likely, it will be more active in Kazakhstan. The entity had 5% in the PSA contract on exploration, development and production of oil in the prospective structure Inam in the Azeri sector of the Caspian Sea (SOCAR has a half of the package, BP, operator of the project, has a quarter, and another 20% belong to the Korean corporation CNPC), but after the failure of the results of exploration drilling the contract ratified by Milli Majlis on December 1, 1998 was suspended.

Royal Dutch Shell is the second largest oil company in the world, with headquarters in The Hague and 94 thousand employees in more than 90 countries around the world.

Shell previously considered the possibility of transporting a lucrative part of its oil produced from Kazakhstan field Kashagan via the Baku-Tbilisi-Ceyhan oil pipeline, but it finally preferred to transport the whole amount of hydrocarbons through the Caspian Pipeline Consortium. --17D-