Here are some comments from me regarding growing global expansion and revenue generation of the oil and gas business centered on developments inside Azerbaijan as “Contract of the Century” marks 20 years.
“Azerbaijan, SOCAR, SOCAR Trading and their international partners continue to produce huge social benefits for the national good and energy security around the region, making SOCAR one of the biggest names on markets around the world. Commenting on the historic groundbreaking agreement made 20 years ago in Baku on the development of national energy resources by more than 13 of the world’s most important oil majors, Mr. Alizade noted the importance of ventures that have changed the face of the energy business around the world and produced new volumes of crude and also greater valuations, in particular:
- The world-class partnership between SOCAR, SOCAR Trading and companies like BP, Amoco, Exxon, Lukoil and others have generated investments exceeding more than 50 Billion US Dollars.
- SOCAR Trading’s world-class operations have greatly expanded the scope and reach of sales, entering into refineries stretching from Europe to the Middle East to Asia and Africa.
- SOCAR Trading because of its professional services and high governance accounting standards yielded cumulative funds greater than 1.1 Billion US Dollars to the Azerbaijan Treasury over the past 5 years.”
This is for our country, SOCAR and SOCAR Trading is a model of international cooperation and investment in our nation and marketplace, without precedent in the region.
Thanks for reading,