OREANDA-NEWS. December 13, 2010. SOCAR delegation led by Mr. Rovnag Abdullayev, Company’s President visited China and Singapore. During the visit to China, on December 9, SOCAR and Chinese Zhen Rong Company held negotiations on mutual cooperation and signed Memorandum of Understanding on Azeri crude oil supply to China.

On December 10, SOCAR delegation met with representatives of Thailand's PTT Company in Singapore. During the meeting, the results of a 5-year mutual cooperation were discussed, as well as the perspectives for forthcoming period were estimated. At the end of negotiations, the parties signed a Memo on joint use of floating oil storage of PTT Company near Singapore. The implementation of the aforesaid Memo will enable diversification of Azerbaijani oil export to Asian market, as well as serve for enhancing efficiency of Azerbaijan’s oil export.