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SOCAR holds talks with world's leading oil, gas companies

November 14, 2017/ 07:23

Baku. President of Azerbaijan’s state oil company SOCAR Rovnag Abdullayev along with the heads of 25 other leading world oil and gas companies took part in the Abu Dhabi CEO Roundtable, SOCAR said in a message Nov. 13.

Abu Dhabi CEO Roundtable has been recently organized in Abu Dhabi by the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). More than 2,000 companies from 135 countries have been represented at the exhibition and conference.

According to the message, global problems, namely, energy transformation and a new dynamics of supply and demand, were discussed during a high-level meeting held at the headquarters of the Abu Dhabi National Oil Company.

"The main topic of the roundtable discussion was the impact of modern technologies and the spread of new energy sources worldwide,” the message said.

Following the roundtable discussion, Abdullayev held face-to-face meetings and meetings in expanded format with the heads of BP, Total, Statoil, Petronas and Saudi Aramco and discussed the current issues within the existing partnership, reports Trend.

Abdullayev stressed that such platforms are necessary for an exchange of views among leading companies to better manage rapidly changing processes in the global energy sector and appreciated the organization of such discussions.

"The processes, which we are discussing here, affect all countries, including Azerbaijan,” he said. “The role of alternative energy sources is growing due to new technologies.”

“However, oil and gas products will continue to play an important role in the future not only as fuel, but also in the production of various polymer products, fertilizers and food products,” he said. “From this point of view, SOCAR's strategy of investing in new oil and gas refining projects has been recently justifying itself."

"SOCAR has become a company that plays an important role not only in Azerbaijan but worldwide upon Azerbaijani President Ilham Aliyev’s instructions,” he said. “By using this position, the company will continue to make its contribution to the country's revenues and coordination of global problems."


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