TODAY.AZ / Business

Saudi Aramco talks on main goals of its Baku office

23 May 2018 [10:15] - TODAY.AZ

By  Trend

Regional representative company of Saudi Aramco will be used as platform to manage and perform all company activities in Central Asia, Saudi Aramco head office told Trend.

"Saudi Aramco, the world biggest oil producer registered its regional representative company "Aramco Overseas Company Azerbaijan LLC" (Aramco AOC Azerbaijan), in Baku city which will be used as platform to manage and perform all company activities in Central Asia," said the company.

Aramco AOC Azerbaijan will be focusing on Oil and Gas upstream, downstream and associated services and will evaluate new business development to identify opportunities for co-operation and collaboration in the integrated energy and chemicals business sector in Central Asia, said Saudi Aramco.

"Over the years, Saudi Aramco has built its reputable and long experience in the oil and gas sector including the exploration and producing for both onshore and offshore fields. Now, it is the time to capitalize on this rich experience and bring it to the level of strategic partnership in Azerbaijan and Central Asia," said the company.

"The office was selected to be in Baku city due to the fact that the Azerbaijan government lends full support to the petroleum industries and energy development, fast economic growth, country geographical location, governance control and policy of foreign investment as well as country stability under the leadership of President Ilham Aliyev."

The European subsidiary of Saudi Aramco, Aramco Overseas, passed registration in Azerbaijan in March 2018. Its authorized capital is 10,000 euros and its official representative in Azerbaijan is the President of Aramco Overseas Talal al-Mari.

Saudi Aramco is the biggest oil company in the world in terms of oil production and oil reserves.


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