Statoil seeks to strengthen its position in Azerbaijan

Statoil company is interested in developing its position in Azerbaijan, President of Statoil Azerbaijan, Lars Troen Sorensen told journalists on Friday.

"Obviously, as a large international oil company producing 2 million barrels a day we would like to develop our position also in Azerbaijan. So if there is an opportunity, we would like to join also future oil fields," Sorensen said.

Sorensen stressed that Statoil company has been in Azerbaijan for 20 years.

"We are partners in Azeri-Chirag-Guneshli (ACG ) field, we are partners in Shah Deniz project and we are currently negotiating to develop the Shah Deniz 2 project," Sorensen said.

Statoil entered Azerbaijan in 1992. It is the second largest foreign investor in the country. Statoil has invested more than $5 billion and is a partner with 8.56 percent share in the oil producing Azeri-Chirag-Guneshli (ACG ) field, the Shah Deniz gas field with $25.5 percent share, and the corresponding pipelines Baku-Tblisi-Cheyhan (BTC) and South Caucasus Pipeline (SCP).


/Trend/