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SOCAR to increase investments to joint venture of Azerbaijan, Poland

Azerbaijan’s State Oil Company (SOCAR) delivered over 750,000 metric tons of crude oil to Poland in 2014, Energy Minister of Azerbaijan Natig Aliyev said.

He made the remarks Dec. 15 at the Azerbaijan-Poland business forum held in Baku.

“Azerbaijani and Polish companies are successfully cooperating in energy, oil and gas, industrial, agricultural, transport and other spheres,” the minister said.

He said SOCAR, which now owns 27.24 percent stake in the ‘Sarmatia’ project, expressed readiness to invest extra funds in the joint venture’s capital, in order to support its operation in 2015-2016.

The minister said that SOCAR delivered 485,000 metric tons of crude oil to Poland in 2012, 523,000 metric tons – in 2013, and over 750,000 metric tons – in 2014.

He said the food industry, petroleum processing, transport, including the railway transport, the delivery of electrical equipment etc. are the promising areas for the Polish companies’ activity in Azerbaijan.

“Also, the companies from Poland can organize activities on the territory of the industrial and technology parks in Azerbaijan,” Minister Aliyev said.