Rovnag Abdullayev, President of SOCAR (State Oil Company of Azerbaijan) and Erdal Aksoy, President of Turkish Oil Company “Turcas” have signed a protocol on establishment of a new joint-stock company, Trend reports referring to Aztadj News Agency.
The aim of the “SOCAR-Turcas Enerji A. S” is to determine investments considered for oil refining capacities in Ceyhan, as well as to fulfill import and wholesale of gas, and ensure the participation of “Turcas” in the exploration and development of the oil and gas fields in the Caspian.
During the news-conference held after the signing ceremony, the President of SOCAR said that for the last 10 months, the country has reached the record figures in the oil production. According to him, in 2010, Azerbaijan expects to produce 60 mln. tons of oil. Speaking about Azerbaijan present capacities to invest into the oil sector of foreign countries, Mr. Abdullayev said that Turkey is the third country where such investments have been made.