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SOCAR AND PETROFAC CREATE JOINT VENTURE

The State Oil Company of Azerbaijan (SOCAR) and UK`s “Petrofac” company have signed a founding contract for the establishment of a joint venture to benefit from commercial opportunities more effectively in the direction of training and education in the oil and gas, petrochemical fields of the country.

According to contract, SOCAR`s share was determined 51%, while Petrofac share is 49%.

The purpose of both companies in setting up a joint venture is to support development of knowledge and skills of oilmen by using their own capabilities.

“Petrofac” is a leading service provider to the oil and gas production and processing industry.

BAKU. 06.12.2017. AzerTAg.


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