Chinese energy group eyes new Azeri projects

Chinese state oil firm CNOOC is seeking to participate in new projects being implemented in Azerbaijan, the company’s vice-president Sun Sian-Sheng said on a visit to Baku.

“We are looking to expand existing cooperation with the state oil company SOCAR,” he said.

Sian-Sheng said the delegation he is heading comprises representatives of numerous joint ventures with the corporation’s capital operating in Azerbaijan.

He pointed to the high level of cooperation between the two countries, including that between SOCAR and his company.

The oil executive emphasized that the Azeri state company has been providing the needed assistance to both Salyan Oil and Gobustan operating companies where the CNOOC holds shares.

Sian-Sheng noted that CNOOC is taking part in up to 70 projects in 26 countries around the world. The company applies cutting edge technologies and operates high-quality exploration and drilling facilities. CNOOC is also one of the key participants in the project on the Kazakh-Chinese oil pipeline whose foundation has recently been laid. The company currently owns six major pipelines.*