Statoil invests over $6.5B in Azerbaijan
By Trend
Over the last two decades, Statoil company has invested more
than $6.5 billion in Azerbaijan, making it the second largest
investor in the country, said the company's executive
vice-president Lars Christian Bacher.
"Azerbaijan has been an important part of Statoil's international
strategy over the past two decades," he said during the 24th
Caspian International Oil and Gas Conference in Baku June 1.
Bacher noted that since the entry of Statoil in Azerbaijan in 1992,
this country has been a key arena for the company's international
goals.
"Through a turbulent and volatile time in global affairs,
Azerbaijan has proved to be a place with a stable business
environment, which makes it attractive for foreign investments," he
added.
Bacher expressed a compliment to Azerbaijani government for
providing a predictable business environment.
He expressed confidence that companies like Statoil and
resource-rich countries like Azerbaijan can work together to come
up to a new approach in addressing the challenges in the oil and
gas industry.
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