News // Companies
Russian oil equipment manufacturer plans to set up joint venture in Azerbaijan
18 December 2018 , 10:11Neftegaz.RU380
Baku, December 18 - Neftegaz.RU. Russian company INTES plans to set up joint venture in Azerbaijan on production of oil equipment, the general director of the company, Yuri Bogachuk, told Trend.
Yuri Bogachuk noted that a control station based on the patent and developments of INTES will be produced in Azerbaijan. In the future, it is planned to improve the export of the produced equipment, he said.
«Production of the equipment will be adjusted in a very short time. It is necessary to organize the production and hire local specialists and teach them to work with new equipment,» he said.
INTES was established in 2010. The company specializes in the construction of exploratory, directional wells, both in the traditional way using hydraulic systems and using gaseous and foam agents in face cleaning systems.
Azerbaijan is one of the main economic partners of Russia among the CIS countries. Interregional cooperation plays an important role in the development of Russian-Azerbaijani trade and economic relations and the increase in trade turnover. Azerbaijan invested more than $1 billion in the Russian economy.
Russia has been included in the list of Azerbaijan’s 5 largest trade partner and invested over $4.2 billion in Azerbaijan’s economy.
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