On May 25th Baku State Oil Company of Azerbaijan (SOCAR) and Soroof International Saudi Arabian Company signed memorandum on intentions on SOCAR's participation in long term oil and gas projects in the kingdom.
In this connection, SOCAR President Rovnag Abdullayev has receive the head of Soroof International, Prince Bander bin Abdullah bin Muhammad al Saud.
SOCAR reports that under the memorandum the companies will create a joint venture in Saudi Arabia for carrying put exploration, production, transportation and processing of oil and gas resources and implementation of long term petrochemical projects.
The memorandum was signed by SOCAR President Rovnag Abdullayev and Soroof International President Bander bin Abdallah Muhammed Al Saud.
HH Prince Bander Bin Abdullah Bin Mohammed Al-Saud was appointed to the position of Non-Executive Chairman of DigitalSkys Limited with effect from 6 July 2006.

AzerTAc