Two Foreign Service Companies Closed

Two foreign companies providing services in the oil and gas sector announced closing of their branches in Azerbaijan. This is reported by the Ministry of Taxes, i.e. a state body for the registration of commercial entities.

The Norwegian service company Acona Holding Vellpro AS has been operating in Azerbaijan since 2010, when it opened its branch. Then the company was named Acona Vellpro AS.

A branch of the Scottish TTE-Petrofac Limited Company, which opened the Caspian Technical Training Center in Baku, has also closed. The branch operated since 2004. In 2007, LLC TTE Petrofac Limited was established in Baku, and it also ceases to operate. The reasons for this step are not reported.    -----9B

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