Rovnag Abdullayev, the President of the State Oil Company of Azerbaijan (SOCAR), has today met with Lee Jae Hoon, Korean Deputy Minister of Commerce, Industry and Energy.
SOCAR press service told APA-Economics that Rovnag Abdullayev underscored start of the active stage of cooperation between Azerbaijan and South Korea and briefed the guests about achievements in oil and gas industry.
Abdullayev expressed hope that business cooperation between SOCAR and Korean National Oil Corporation will continue to further develop.
Lee Jae Hoon hailed rapid economic growth in Azerbaijan and expressed satisfaction with efficient cooperation between the two countries in oil and gas sector.
Speaking of realization of the memorandum of understanding between SOCAR and KNOC, Lee Jae Hoon added that KNOC and Shell have concluded a share deal on INAM Oilfield. He added that KNOC will continue to cooperate with other partners to the project – SOCAR and BP.
KNO has acquired a 20% stake in Inam Field in the Caspian Sea. /APA-Economics/
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