Thursday, 04 April 2024 12:15

Azerbaijan, Republic of the Congo sign documents

A ceremony of signing documents was held with the participation of President of the Republic of Azerbaijan Ilham Aliyev and President of the Republic of the Congo Denis Sassou Nguesso on April 4.

As reported by Caspian Energy Media with reference to AZERTAC, President of the Republic of Azerbaijan Ilham Aliyev and President of the Republic of the Congo Denis Sassou Nguesso signed the “Declaration on Cooperation between the Republic of Azerbaijan and the Republic of the Congo”.

President of the State Oil Company of the Republic of Azerbaijan Rovshan Najaf and Director General of the Société Nationale des Pétroles du Congo, the national oil company of the Republic of the Congo, Maixent Raoul Ominga signed the “Memorandum of Understanding on Training between the State Oil Company of the Republic of Azerbaijan and the National Oil Company of the Republic of the Congo”.

President of the State Oil Company of the Republic of Azerbaijan Rovshan Najaf and Director General of the Société Nationale des Pétroles du Congo, the national oil company Republic of the Congo, Maixent Raoul Ominga signed the “Agreement on Terms for Improvement and Expansion of the Congolaise de Raffinage oil refinery between the State Oil Company of the Republic of Azerbaijan and National Oil Company of Republic of the Congo”.

Minister of Ecology and Natural Resources of the Republic of Azerbaijan Mukhtar Babayev and Minister of Environment, Sustainable Development and the Congo Basin of the Republic of the Congo Arlette Soudan-Nonault signed the “Protocol of Intent on Cooperation in the field of Environment, Sustainable Natural Resource Management, and Climate Change between the Ministry of Ecology and Natural Resources of the Republic of Azerbaijan and Ministry of Environment, Sustainable Development and the Congo Basin of the Republic of the Congo”.

DR Congo is one of the rapidly developing economies of Africa (+8.5% GDP in the year 2022).

Chinese investments have started actively flowing to Africa since the beginning of XXI century. During the first decade, investments from China rose by 22 times, to $220 bln, and the volume of given loans rose by 74 times ($100 bln) by 2017.  At present, the country is producing 22,000 bpd, though the national project for the development of the sector implies an increase of this figure at least by 10 times, Izvestiya reports.

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