SOCAR considers buying some assets from Rosneft

SOCAR has been considering possibility of buying some assets of Rosneft company in Russia. “Within several weeks the documents could be possibly signed. The assets have been named, but there are many candidates, because everyone would like to cooperate with Rosneft,” SOCAR President Rovnag Abdullayev told journalists after his talks with Rosneft President Igor Sechin at IP Week.

Two sources familiar with the situation told Interfax that SOCAR has considered purchase of Polyarnoye Siyaniye company from Rosneft, which has been eventually purchased by the company owned by Aleksei and Yurii Khotin (including ConocoPhillips’s share).

Commenting on SOCAR’s interest in Polyarnoye Siyaniye, representative of Azeri company told journalists: “There are many assets in Russia that are under consideration.”

In May 2014 SOCAR and Rosneft created a joint venture, which is also involved in production. But the JV has not been operating yet.--0—

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