Hanafi Talib was appointed the head of Malaysia's Petronas in Azerbaijan, the Azerbaijani Energy Ministry said in a statement.


Azerbaijani Energy Minister Natig Aliyev had a meeting with the Malaysian ambassador in Baku, who presented the new head of Petronas in Azerbaijan.


Aliyev at the meeting emphasized that despite the fall in the price for oil on global markets, oil and gas projects are being successfully implemented. He noted the potential for cooperation with Petronas on projects in the Azerbaijani sector of the Caspian Sea.


Ambassador Dato' Roslan Tan Sri Abdul Rahman, in his turn, highly evaluated the joint activity in the framework of Stage 2 of the development of the Azerbaijani field Shah-Deniz.


"In addition, at the meeting the issue of gas from Turkmenistan going to European markets and opportunities for the Trans Caspian Gas Pipeline were discussed," the statement said.


The contract for the development of the Shah-Deniz field was signed 9n Baku on June 4, 1996 and ratified by the Milli Majlis (National Assembly) on October 17 of the same year. The participants in Shah-Deniz are BP (operator, 28.8%), Petronas (15.5%), State Oil Company of the Azerbaijani Republic (SOCAR) (16.7%), Lukoil (MOEX: LKOH) (10%), NICO (10%) and TPAO (19%).

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