Saudi Aramco Shuts its Subsidiary in Azerbaijan

Wednesday, 2nd June 2021
by Editorial Team

Haradh, SAUDI ARABIA: A general view shows a new plant inaugurated 22 March 2006 in Haradh, about 280 kms (170 miles) southwest of the eastern Saudi oil city of Dhahran, launching a project adding 300,000 barrels of oil to the kingdom’s daily production capacity. The facility which was opened today in a ceremony attended by Saudi Oil Minister Ali al-Nuaimi was completed in January, ahead of schedule, the company said. Approximately 160 kms (100 miles) of new pipeline and extensions will transport crude and gas products to processing facilities further north in the Eastern Province, a statement said. Saudi Arabia, the world’s top crude producer and exporter, currently pumps around 9.5 million bpd of oil and has a production capacity of around 11 million bpd. AFP PHOTO/STR (Photo credit should read -/AFP/Getty Images)

Saudi Aramco has announced the liquidation of its subsidiary in Azerbaijan, Aramco Overseas Company Azerbaijan without indicating causes of closure, according to NeftegazRU.

Aramco Overseas Company Azerbaijan was established in 2018 with a registered capital of 10,000 €. The company operated in the field of oil and gas production, refining, and related services.

Azerbaijan and Saudi Arabia discussed the possibility of strengthening cooperation in several energy sectors, including both fields of traditional and renewable energy in February 2021.