Saudi Aramco closes subsidiary in Azerbaijan

Sinopec News Network reported that according to the Russian Oil and Gas Network on June 1, the subsidiary of Saudi Aramco, Saudi Aramco Overseas Azerbaijan Company, has announced its liquidation.

Saudi Aramco Overseas Azerbaijan Company was established on March 2, 2018, with a registered capital of 10,000 Euros.

The company operates in the field of oil and gas production, refining and related services.

In February 2021, Azerbaijan and Saudi Arabia discussed the potential for expanding cooperation in various fields of energy in the fields of traditional energy and renewable energy.

In addition, the two parties also introduced Saudi Aramco, SABIC and ACWA Power's oil production, processing and petrochemical products in related fields in Azerbaijan to the world market, as well as participation and investment prospects.

Zhu Jiani is an excerpt from the Russian Oil & Gas Network

The original text is as follows:

Saudi Aramco closes its subsidiary in Azerbaijan

Aramco Overseas Company Azerbaijan, Saudi Aramco's subsidiary, has announced its liquidation.

Aramco Overseas Company Azerbaijan was established on March 2, 2018.

　　The company operated in the field of oil and gas production, refining, and related services, it was also created to identify opportunities for cooperation and collaboration in the integrated energy and chemicals business sector in Azerbaijan and Central Asia.

　　In February 2021, Azerbaijan and Saudi Arabia discussed the potential for expanding cooperation in various sectors of energy, both in the field of traditional and renewable energy.

　　Moreover, the parties briefed on the oil production, processing and delivery of petrochemical products to the world markets, participation and investment prospects in the projects of Saudi Aramco, SABIC and ACWA Power in a relevant field in Azerbaijan.