Gulf Oil and Gas accountACCOUNT

RWE, SOCAR Signed MOU for Exploration Activities

Source: www.gulfoilandgas.com 3/9/2010, Location: Asia

The RWE Group expands its commitment in Azerbaijan. The company and the State Oil Company of the Republic of Azerbaijan (SOCAR) have signed a memorandum of understanding to draw up an agreement for the hydrocarbon exploration and development for the Nakhichevan perspective structure in the Azerbaijan sector of the Caspian Sea. The signing of the memorandum of understanding took place today in Baku.

The memorandum of understanding was signed by the President of SOCAR, Rovnag Abdullayev, and Dr. Jürgen Gro?mann, Chairman of the Board of Management of RWE AG. The “Exploration, Development and Production Sharing Agreement” (EDPSA) is to be drawn up in coming months. “Europe needs access to the immense oil and gas reserves in the Caspian Sea. As a result, RWE will also be able to grow in the upstream sector. In RWE Dea, we have the necessary expertise to do so,” Gro?mann said. In the long term, the gas deposits that may be sourced on account of the latest agreement between RWE and SOCAR could also contribute to the energy security of Europe.

The agreement relates to the Nakhichevan structure in the Caspian Sea, about 50 kilometers off the coast of Azerbaijan. “The signing of the memorandum of understanding is a first step towards RWE initiating upstream activities in Azerbaijan, and we look forward to constructive collaboration with SOCAR,” said Thomas Rappuhn, Chairman of the Management Board of RWE Dea AG.

Azerbaijan has extensive hydrocarbon resources. “Our intention is to gradually step up our activities in this country in the course of time,” Rappuhn explained. Last year, RWE Dea had already established the RWE Dea Azerbaijan Branch and opened an office in the capital, Baku.

Exploration News in Azerbaijan >>

Mexico >>  9/11/2019 - Talos Energy Inc. has received a two-year contract term extension as well as regulatory approvals for additional exploration activities on Block 7, lo...
United Kingdom >>  9/11/2019 - Independent Oil and Gas plc (IOG), the development and production company focused on becoming a substantial UK gas producer, is pleased to provide an ...

Egypt >>  9/8/2019 - President Abdel Fattah El Sisi met with Prime Minister Mostafa Madbouly, Minister of Electricity and Renewable Energy Mohamed Shaker Al Marqabi, Minis...
Nigeria >>  9/6/2019 - LEKOIL, the Africa-focused oil and gas exploration, development and production company, has announced that pursuant to a letter dated 4 September 2019...

United Kingdom >>  9/6/2019 - Cooper Energy (COE) as Operator of VIC/P44 (Cooper Energy 50% interest holder, Mitsui E & P Australia 50% interest) announces that the exploration we...
Australia >>  9/4/2019 - Cooper Energy (COE) has been awarded the offshore exploration permit VIC/P75 located in the Gippsland Basin, offshore Victoria. ...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Azerbaijan Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |

Oil & Gas Projects in Azerbaijan >>

More News

Related Links

AZ BD BN CN GE HK ID IN IR JP KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.