UK to increase investment into oil and gas sector of Azerbaijan to $17 bln

​Azerbaijan is of great value for the UK oil and gas companies in the part of business development, and they assess the county’s investment potential at the level of $17 bln, the UK Trade& Investment reports.

The experience and technologies of the UK companies in the spheres of engineering, projection and production might have the key meaning for the  development and extraction of significant reserves of energy resources of Azerbaijan, the agency said.

The head of the department for infrastructure and energy of the agency, C. Keere, said that 40 years ago they started to extract oil and gas in the North Sea, and on this basis the UK has accumulated good knowledge and experience. Companies from the UK now render services not only in the UK but all over the world. This experience is very valuable and important in the current difficult conditions and I think Azerbaijan and the UK can earn on the development of a reliable partnership.