On November 21, SOCAR President Rovnag Abdullayev received the delegation led by Patrick Pouyanné, CEO of French Total.

Welcoming the guests, Mr. Abdullayev congratulated the management of Total with its 20th anniversary and wished them great success in the future. He spoke about the fruitful cooperation between SOCAR and Total and emphasised the role of in oil and gas projects, jointly realised by the two companies, in regional and international energy security.

he meeting stressed that Total has an important position in the global oil and gas industry and is among the first foreign energy companies operating in Azerbaijan and international investors invested in country's oil and gas industry. The attendees noted that high level of successful cooperation between SOCAR and Total continues. Geological exploration and drilling works conducted in Absheron gas-condensate field, evaluation of performance indicators of the field, as well as development of program to start the production serve as a good case in point for this cooperation.

Expressing gratitude for the warm reception, CEO of Total Patrick Pouyanné said they are interested in continuing relationship and see broad prospects for development of cooperation. He said they carefully follow the progress of the projects in Azerbaijan, research new investment opportunities and will continue to invest in oil and gas operations in Azerbaijan. Total officials expressed their desire to make the maximum use of opportunities to participate in other oil and gas projects in Azerbaijan, including the Umid field and Babek perspective structure.

At end of the meeting, an umbrella agreement on principles regulating the development program of Absheron project was signed between SOCAR and Total.

About Socar

SOCAR is an integrated state oil & gas company of Republic of Azerbaijan and is involved in upstream, midstream and downstream operations encompassing exploration of oil and gas fields, production, processing and transporting oil, gas and condensate, marketing of petroleum and petrochemical products in domestic and international markets and supplying natural gas to domestic and industrial customers in Azerbaijan. SOCAR has its trading companies in Switzerland, Singapore and UAE and representative offices in a number of other countries.

About Total

Total is a global integrated energy producer and provider, a leading international oil and gas company, and the world’s second-ranked solar energy operator with SunPower. Our 96,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.