Turkish oil company to continue investing in Azerbaijan

Wed 16 December 2009 12:23 GMT | 17:23 Local Time

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Taner Yildiz

Turkey's TPAO will continue investing in Azerbaijan, said Turkish Energy Minister Taner Yildiz, according to Hurriyet.

He said TPAO intends to take part in energy projects in Iraq, Libya and Iran.

Notably, TPAO participates in four projects in Azerbaijan, including Azeri-Chirag-Gunesli fields development (6.75% share), Shah Deniz gas condensate field development (9%) and BTC pipeline construction (6.53%).

Notably, TPAO's investments in Azerbaijan made $1.7-2 bn in 1994-2008 and the company intends to invest $2.5 bn to oil and gas projects in Azerbaijan until 2010.

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