Baku, January 23, AZERTAC

President of SOCAR Rovnag Abdullayev and Vice President Elshad Nasirov have held bilateral meetings with high officials of the world’s energy companies and financial institutions on the sidelines of the World Economic Forum in Davos.

SOCAR management participated in the meeting of the President of the Republic of Azerbaijan Ilham Aliyev with the CEO of BP Bob Dudley. Among the issues discussed during the meeting were the future development of the ACG project, problems related to the development of the Shah Deniz project, prospects of other projects conducted by BP and SOCAR in Azerbaijan, world trends of the oil prices and other issues.

On the 18th of January the management of SOCAR participated in the meeting of the President of Azerbaijan Ilham Aliyev with the Minister of energy, industry and mineral resources of Saudi Arabia Khalid Al-Falih and the CEO of Saudi Aramco oil company Amin Nasser. The Saudi representatives thanked the Azerbaijani side for the constructive approach of Azerbaijan and SOCAR in the issues of joint actions aimed at stabilization of the world oil prices and discussed several mutual investments projects.

SOCAR executives also attended the meeting between Azerbaijani President Ilham Aliyev and Vice-President of the European Commission, in charge of Energy Union Maros Sefcovic. Situation with the realization of the SGC project was under discussion, together with the upcoming Ministerial meeting of the SAGC countries to take place in Baku on the 23rd February. Excellent relations of the Republic of Azerbaijan with the European institutions were mentioned. Projects of TANAP, TAP and perspectives of IAP (Ionic Adriatic pipeline) were also discussed.

SOCAR management also participated in the meeting of the President of Azerbaijan Ilham Aliyev with the President and CEO of Statoil company Eldar Saertre and his team. The two sides discussed the prospects of the development of ACG project and the pace of development of KADU project (Qarabagh, Ashrafi, Dan Ulduzu).

SOCAR also participated in the meeting of the President of Azerbaijan Ilham Aliyev with the President of Ukraine Petro Poroshenko and the ministerial delegation of Ukraine. The Ukrainian President mentioned the role of SOCAR in expanding the trade turnover between the two countries and the high standards of the SOCAR petroleum filling stations in Ukraine and Switzerland, the recent supplies of Azeri Light crude oil to the Ukrainian refineries and invited SOCAR to consider further investment projects in Ukraine including transportation and refining of oil, including investments in the Ukrainian refineries, ports and other items of infrastructure. The two sides agreed to exchange high level delegations, in addition to the bilateral economic commission, to discuss and implement different projects.

SOCAR delegation participated in several other meetings of the President of Azerbaijan Ilham Aliyev, including the meeting with the Head of the Iraqi Kurdistan regional Government Masoud Barzani, where they emphasized the possibility of researching the cooperation opportunities in the energy, import-export and other fields.

SOCAR executives joined the panel discussions and participated in a working lunch for the Senior Management of oil and gas major companies with BP CEO as the moderator of the meeting.

SOCAR team met with Mr. Amin Nasser, the President of Saudi Aramco oil company, and vice-president Abdulaziz Al-Judami. The two companies discussed possible cooperation in different countries on many projects and agreed the future joint actions within the framework of OPEC-Non OPEC countries’ cooperation aimed at optimization of the world oil prices.

The SOCAR management had a meeting with the CEO of Al-Dabbagh group of companies, former Minister of agriculture of the Kingdom of Saudi Arabia, Amr Abdulla Al Dabbagh. Possible cooperation and investment projects were under discussion. The SOCAR management had also a meeting with the CEO of a US company APCO, Margery Kraus, to discuss possible ways of cooperation.

SOCAR management had a meeting with the newly appointed Commissioner for budget and human resources, Mr. Gunther Oettinger and the Head of his office Mr. Michael Hager. Among the issues of the discussions were the financing of the Southern Gas Corridor through different European financial institutions, different problems with the realization of the project and the ways of solving them, the upcoming meetings of SOCAR team in Brussels related to the SGC. Mr. Oettinger plans to pay a visit to Azerbaijan in September of 2017.

The President of SOCAR Rovnag Abdullayev also participated in a working dinner hosted by the Head of Goldman Sachs International Richard John Gnodde and had meetings with CEOs of different energy and financial companies.