On June 28, SOCAR hosted a round table to discuss large investment projects, financial sustainability and credit management. SOCAR vice presidents Suleyman Gasimov and Khalik Mammadov, head of the Investment Department Vagif Aliyev, head of the Legal Affairs Department Eldar Orujov and leaders of non-governmental organizations of Azerbaijan, as well as journalists attended the three-hour panel discussions.
SOCAR officials gave detailed information on the issues of interest to the public community. The attendees focused attention on SOCAR’s investment projects, financial situation, risk and credit management and held productive discussions and exchanged views. NGO leaders Sabit Bagirov, Ingilab Ahmadov, Alimammad Nuriyev, Mahammad Talibli and Ilham Shaban thanked for the meeting and urged to hold such effective and important discussions frequently.
They said the civil society institutions would continue working with SOCAR.
Rovnag Abdullayev, President of SOCAR, attended a meeting held within the framework of BP two-day investor field trip to Baku. Senior portfolio or fund managers for some of the world’s most significant investment funds, including Capital Research International, Capital World, UBS Asset Management, Fidelity Research and JP Morgan Asset Management attended the field trip.
The key objective of the trip was to provide these analysts with an in-depth review of BP’s global upstream portfolio and strategy. Gordon Birrell, BP Regional President for Azerbaijan, Georgia and Turkey, said that as part of this review, BP Azerbaijan leadership presented to the visiting analysts their track record of over 22 years of investing in Azerbaijan and provided an opinion on future investment opportunities. Rovnag Abdullayev, SOCAR President, spoke about the achievements of Azerbaijan’s energy strategy.
He informed the guests about the SOCAR’s investment projects carried out in Azerbaijan and abroad. Bernard Looney, BP's Upstream CEO, said: ''That’s why when we wanted to talk to our investors about the future - we brought them here. After all, if anyone wanted to know what the future of oil and gas looks like, they only need come to Baku. ''
On June 20, SOCAR President Rovnag Abdullayev received the delegation led by Datuk Wan Zulkiflee Wan Ariffin, President and CEO of Malaysian Petronas. Welcoming the guests, Rovnag Abdullayev spoke about the long-term useful cooperation between SOCAR and Petronas and said the projects in partnership with both companies were progressing successfully.
Reminding about his previous visit to SOCAR, Datuk Wan Zulkiflee Wan Ariffin stated that Petronas and SOCAR are successfully working within the Shah Deniz-2 project and his company is interested in expanding cooperation. Rovnag Abdullayev informed the delegation on the process of implementing Shah Deniz and Southern Gas Corridor projects. He noted that the works on the second phase development of Shah Deniz field and construction of pipelines proceed by the schedule. Both parties have expressed confidence that Turkey would be able to transport gas via its territory in 2018.
SOCAR President Rovnag Abdullayev attended the St. Petersburg International Economic Forum on June 16-18, 2016 and held a series of bilateral meetings within the framework of the Forum.
A working meeting with Alexey Miller, Chairman of the Gazprom Management Committee, highlighted the prospects for expanding trading operations with gas, liquid hydrocarbons, and petrochemical products, as well as increasing gas supplies. SOCAR and Gazprombank signed a cooperation agreement about the construction of nitrogen unit by Russia’s Cryogenmash for SOCAR Polymer’s Polypropylene and High-Density Polyethylene Plant. A Memorandum of Understanding was signed between SOCAR, Gazprombank and the export credit and investment agencies EXIAR (Russia) and SACE (Italy) on financing and construction of gas chemical complex in Azerbaijan.
The document was signed in the presence of President Vladimir Putin of Russia and Prime Minister Matteo Renzi of Italy. Gazprombank will finance the project of SOCAR Gas Plastics Company, which opens new opportunities for Gazprombank Group of Companies to fund and supply Russian equipment abroad. According to preliminary estimates, the total investment budget of the project is $3.5 bn. The potential volume of supply of Russian equipment and materials and the cost of construction and installation services of Russian contractors for the project will be up to 20% of the investment budget.
Gazprombank estimated the large-scale projects carried out jointly with SOCAR as a good example of combining financial and technological capabilities of the Group.
The State Oil Company of the Azerbaijan Republic (SOCAR) is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate.read more
When investors and credit organizations wish to cooperate with any company, first of all the international rating of the company in discussion is reviewed.read more