Germany’s RWE Dea Group and Azeri state oil company SOCAR have signed an exploration accord for a project in the Caspian Sea.
Offshore staff
BAKU -- Germany’s RWE Dea Group and Azeri state oil company SOCAR have signed an exploration accord for a project in the Caspian Sea. The memorandum of understanding concerns exploration and development of the prospective Nakhichevan structure in the Azeri offshore sector.
Nakhichevan is around 50 km (31 mi) 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,” says Thomas Rappuhn, Chairman of the management board of RWE Dea.
“Our intention is to gradually step up our activities in this country in the course of time,” he adds. Last year, the company established an RWE Dea Azerbaijan branch and opened an office in Baku.
