Some Japanese companies interested in development of OGPC project

SOCAR will do a technical evaluation of the Japanese companies’ proposals aimed at investing capital into the Azerbaijani oil and gas industry, Rovnag Abdullayev, President of State Oil Company of Azerbaijan (SOCAR), said at the meeting with Tsuguo Takahasi, Japan’s Ambassador Extraordinary and Plenipotentiary.

He said they have been discussing the possibility of participation of the Japanese companies in construction of oil and gas refining and petrochemical complex (OGPC) in Azerbaijan.

“SOCAR supports proposals of the Japanese companies and banks aimed at investing capital into Azerbaijan’s oil and gas industry. During the visit of representatives of Mitsui corporation to Baku in the coming days SOCAR will do a technical evaluation of these investment proposals,” Abdullayev said.

Japanese Ambassador confirmed interest of the Japanese companies in continuation of cooperation with Azerbaijan.

* In June 2015 SOCAR President and Vice President for Development, who is in charge of OGPC project, visited Tokyo to meet with the Japanese companies that were interested in the Azerbaijani project. According to Turan, reduction of hydrocarbon prices has affected investment policy of many companies. Meanwhile, some of them still continue discussion of future plans aimed at the OGPC project development.—0—