Azerbaijan’s SOFAZ invests over 50mn euros in Romania

April 17, 2014

Azerbaijan's state energy company SOCAR has international experience in implementation of large-scale projects which can contribute to achieving common European targets in the energy field, SOCAR Head Rovnag Abdullayev said during his visit to Romania which took place on the invitation of Romanian Prime Minister Victor Ponta, Azernews reported on April 16.

"Europe is facing many challenges in diversifying supply sources, which is important for ensuring the energy security, that allows to provide the competitiveness of industry, economy and infrastructure," Abdullayev noted.

CEO of SOCAR in Romania Hamza Karimov, for his part, said the volume of investment by Azerbaijan's state oil fund SOFAZ in Romania exceeded 50 million euros, which paved the way to open 320 new working places here.

Copyright: Azernews, 2014