OREANDA-NEWS. June 24, 2010. SOCAR management met with the delegation headed by Austrian Federal Minister of Economy, Family, and Youth Mr. Reinhold Mitterlehner at Head Office of the Company. By greeting the guests, SOCAR Vice-president on Investment and Marketing Mr. Elshad Nasirov pointed out that recent business relationships between SOCAR and Austrian companies contribute to the development of intergovernmental relations.

He gave detailed information on regional oil and gas projects implemented in Azerbaijan, and emphasized creation of diversified export oil and gas pipelines system in the country. In turn, Mr. Reinhold Mitterlehner stated that Austria supports NABUCCO gas pipeline project envisaging natural gas transportation to Europe produced from the Caspian Sea. By noting the increase in gas production as the result of the independent development of the fields by SOCAR within “Shahdeniz”, “Azeri-Chirag-Guneshli” projects, SOCAR representatives mentioned that Azerbaijan supports “South Stream” project and present gas pipeline options are seriously considered by the Company. Afterwards, Austrian Minister presented the representatives of the delegation to SOCAR management.

The representatives of “OMV”, “Mbh CIS” “AG CIS”, “Herz Armaturen GesmbH”, “BHDT” and other Austrian companies briefed on their activity spheres and achievements. They also expressed their interest in cooperation in the projects implemented by SOCAR.