Wednesday, 26 June 2019 07:34 GMT

Indian companies look to get into more oil, gas projects in Azerbaijan

(MENAFN - AzerNews) By Trend

Indian oil companies are looking forward to expand their business with partners in Azerbaijan's oil and gas sector, Sanjay Rana, the Indian Ambassador to Azerbaijan, told Trend.

He reminded that an Indian multinational oil and gas company Oil and Natural Gas Corporation (ONGC) has share in Azerbaijan's Azeri-Chirag-Gunashli (ACG) oil and gas project (2.31 percent).

"India has a very good potential in this sector. Our companies are looking forward to participate in development of other oil and gas fields of Azerbaijan," the ambassador said.

Rana stressed that there is a great potential for cooperation in pharmaceutics, tourism and other areas as well.

The ambassador underlined that economic relations between the countries are getting stronger every year.

"Our economic relations are very good. We have a good trade and it is growing every year. We hope that our economic cooperation will increase in years to come," Rana concluded.

According to the State Customs Committee of Azerbaijan, trade turnover with India in January-November 2018 amounted to $836.7 million.

As compared to the indicator for the same period of the last year, the trade turnover between the countries increased by 45.9 percent, while the exports of Azerbaijani products increased almost two times.


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Indian companies look to get into more oil, gas projects in Azerbaijan


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