SOCAR seeks Chinese companies` involvement in OGPC project

Baku, September 16, AZERTAC

President of Azerbaijan`s state oil firm, SOCAR, Rovnaq Abdullayev has expressed the company`s interest in involving Chinese counterparts in the Oil-Gas Processing and Petrochemical Complex (OGPC) project. “We made a proposal to Chinese companies and banks in a bid to attract funding for the construction of the complex and also to involve them as shareholders,” Abdullayev told journalists.

He said SOCAR works with Chinese Eximbank, several other banks and China National Petroleum Corporation on this project. “The Chinese companies may be involved in the capacity of shareholders with up to a 50 per cent stake. The financing of the project may be carried out jointly by the Chinese State Eximbank and Bank of China Limited,” he added.

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