Azerbaijan National Academy of Sciences

Baku hosted Caspian Annual Technical Conference and Exhibition November 4.

The event was attended by representatives of more than 500 international and local oil companies, government, service companies, research institutions and other organizations.

The conference held by the organizational support of Society of Oil and Gas Engineers (SPE) discussed topical issues, challenges and opportunities for the oil and gas industry in the Caspian region. SPE President Nathan Miikhan spoke about the importance of this event in Baku, about successes achieved in the global oil-gas industry and the applied innovations.

Further, ANAS President, Academician Akif Alizadeh told about the development of the oil and gas industry of Azerbaijan and achievements in this field. He noted that due to the farsighted policy of Heydar Aliyev in 1994 signed the "Contract of the Century". Through the implementation of the oil strategy, which is being successfully continued by President Ilham Aliyev, Azerbaijan is recognized worldwide as an oil country. Academician noted that oil and gas perspective of the South Caspian Basin is enormous, and perhaps the discovery of new oil and gas fields.

Deputy Minister of Energy Natig Abbasov told about success achieved by the main export oil pipeline of Baku-Tbilisi-Ceyhan and the gas pipeline of Baku-Tbilisi-Erzurum and about a role of Azerbaijan as power corridor between the East and the West. The Deputy Minister stressed the importance for the continent of Gas Corridor "Janub", known as "Project of the XXI century", and the transportation of Azerbaijani gas to Europe via TAP and TANAP.

First Vice-President of the State Oil Company of Azerbaijan Republic (SOCAR), Academician Khoshbakht Yusifzadeh said about successful stories of our oil and gas industry of the country, the meaning of "Contract of the Century" and the results obtained after its signing.

At the panel session of the conference was attended by senior officials of the oil and gas companies in the region, representatives of the operating companies, service companies, consulting firms and research centers, as well as representatives of companies such as SOCAR, "BP", "ExxonMobil", "Schlumberger", "Total".

The main topic of session discussions were large-scale oil and gas projects, the various risks associated with them, including technical risks, the implementation of projects, risks associated fulfillment of obligations.

The event will last until 6 November.

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