SOCAR PRESIDENT MEETS USAID CHIEF ECONOMIC ADVISOR

04.12.2007 [22:40]
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President of Azerbaijan`s State Oil Company, SOCAR, met Tuesday with Chief Economic Advisor to the U.S. Agency for International Development (USAID) Arnold Harberger.

Abdullayev said oil sector is playing huge role in the development of Azerbaijan`s economy.

He pointed that the signing of the “Contract of the Century” initiated by nationwide leader, late president Heydar Aliyev was a milestone in Azerbaijan`s oil history.

Abdullayev said the Azeri-Chirag-Gunashli project and inauguration of the Baku-Tbilisi-Ceyhan oil and Baku-Tbilisi-Erzurum gas pipelines are a major boost to Azerbaijan`s rapidly growing economic and financial potential.

Rovnag Abdullayev said SOCAR joined the Extractive Industries Transparency Initiative.

The SOCAR President stressed Shahdeniz gas field project is already contributing to ensuring energy security in Europe.

Abdullayev also informed Arnold Harberger about his company`s activity abroad, saying construction of Kulevi oil terminal in Georgia had already ended, and that SOCAR had recently bought Turkish petrochemical company Petkim.

He added SOCAR also plans to build an oil refinery in the Turkish port of Ceyhan.

Arnold Harberger stressed the role of oil strategy in Azerbaijan`s development.

He described SOCAR as the most influential company in Azerbaijan`s oil industry.

SOCAR PRESIDENT MEETS USAID CHIEF ECONOMIC ADVISOR

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