Azerbaijan’s state oil company SOCAR will conduct the technical assessment of Japanese companies’ proposals on investment in Azerbaijan’s oil and gas sector, SOCAR’s President Rovnag Abdullayev said.

He made the remarks during the meeting with Japan’s extraordinary and plenipotentiary Ambassador to Azerbaijan, Tsuguo Takahashi.

The prospects of Japanese companies’ participation in the Oil and Gas processing and Petrochemical Complex’s (OGPC) construction project are being discussed, said Abdullayev.

“SOCAR supports proposals of Japanese companies and banks on investments in Azerbaijan’s oil and gas industry,” he noted.

Japan’s ambassador, in turn, confirmed the interest of Japanese companies in continuing the cooperation with Azerbaijan.