Ukraine plans oil and gas sector development in Azerbaijan

Feb 20, 2002 01:00 AM

Ukraine plans to step up efforts in developing crude oil and natural gas extraction in Azerbaijan this year and may also participate in jointly building oil pipelines to channel Caspian crude to world markets, First Deputy Prime Minister Oleh Dubina told. "This work will be made more active," Dubina said. Dubina made the statement after a joint meeting of the Ukrainian-Azerbaijan economic and trade commission.

Ukraine's state energy company Neftegaz Ukrainy is now expected to begin negotiations to develop oil and gas fields in Azerbaijan, Dubina said. Azerbaijan First Deputy Prime Minister Abbas Abbasov, who was in Ukraine to co-chair the commission, said Azerbaijan had also invited Ukraine to participate in construction of Baku-Tbilisi-Djeykhan (Turkey) crude oil pipeline, which is designed to channel Caspian Sea crude to world markets.

Source: Platts
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