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Ukraine's Energy Ministry, SOCAR agree on joint projects in gas and oil production
KYIV. Sept 1 (Interfax-Ukraine) – The Ministry of Energy of Ukraine and SOCAR (State Oil Company of Azerbaijan) have agreed on further dialog to start joint projects in gas and oil production, the press service of the Ministry of Energy said following the meeting held on Tuesday, August 31.
According to its post on Facebook, the representatives of the company, who participated in the negotiations, led by SOCAR AQS General Director Samir Mollayev, expressed interest in cooperation and investment in various types of mining activities: 3D seismic, drilling, and production itself.
According to First Deputy Energy Minister Yuriy Vlasenko, quoted by the press service, the Ukrainian oil and gas industry is promising for attracting foreign investment, and Ukraine is interested in the experience of SOCAR in offshore gas and oil production.
SOCAR through SOCAR Energy Ukraine began its activities in Ukraine in December 2009. The company owns a network of 60 filling stations and four oil depots in Ukraine.
SOCAR’s revenues from activities in Ukraine in 2020 amounted to 684.581 million manats ($402.7 million at the current rate).
At the end of July, Head of the State Service for Geology and Subsoil Roman Opimakh said that SOCAR AQS is mulling the possibility of investing in Ukrainian subsoil as the country has potential hydrocarbon deposits and raw materials for the production of batteries for electric cars and electronics.
