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SOCAR becomes rightful owner of Bos Shelf

17 September 2012 11:23 (UTC +04:00)

Baku. Ali Ahmadov - APA-Economics. SOCAR has become rightful owner of Bos Shelf joint venture, which implements huge oil-infrastructure projects in the country, SOCAR President Rovnag Abdullayev said, APA reports.

To him, SOCAR purchased shares of other companies in this venture, as well as Italian Saipem company and became the only owner of it: â€˜The main purpose here is â€“ to establish local contractor company realizing big projects in Azerbaijan. Up to this day, main contractors in Azerbaijan were foreign companies, as well as Saipem and McDermott companies. Azerbaijani companies used to participate only as subcontractor. But now, we have agreed with outstanding oil companies â€“ Bos Shelf will be the contractor of all huge projects. It will work jointly with Deep Water Jacket Plant named after Heydar Aliyevâ€™.

Abdullayev noted that recently, since Bos Shelf operates in accordance with the demands of market economy and international standards, it is considered to employ only specialists. SOCAR is taking appropriate measures to increase skill of the staff.