Azerbaijani oil & gas projects significant for foreigners despite price fluctuations

Fluctuations in oil prices do not affect the interest of foreign investors in the oil and gas sector of Azerbaijan, said Vitaliy Baylarbayov, deputy vice-president of SOCAR for investments and marketing.

He made the remarks at ‘The 2nd SOCAR International Caspian and Central Asia Downstream Forum – Trading, Logistics, Refining, Petrochemicals’, held in Baku on April 25.

“Despite the fluctuations in oil prices, our projects continue to be significant for foreign investors,” said Baylarbayov.

He expressed confidence that in the future, direct foreign investment in Azerbaijan’s oil and gas sector will further grow as a result of implementation of the second and third stages of development of the Shah Deniz field, as well as the continuation of development of the Azeri-Chirag-Gunashli oil and gas field. (trend.az)