TODAY.AZ / Business

Hong Kong-listed Willie Intl considers joining Azerbaijan oil JV

09 February 2007 [10:40] - TODAY.AZ
Willie International Holdings Ltd said it is studying the prospects of cooperating with various parties in forming a joint venture for an oil recovery project in Azerbaijan.

Chairman Henry Chuang said in a statement the company has not started any formal negotiations with any party.

The chairman issued the statement because he said he wanted to clarify certain media reports yesterday about Willie International forming a joint venture with a Chinese conglomerate to undertake an oil project in Azerbaijan.

Chuang also said University of Southern California (USC) civil and petroleum engineering professor George Chilingar has informally accepted, during a conversation, his appointment as Willie International project consultant, tasked with providing technical advice and evaluation in case the proposed company participation in the Azerbaijan oil project proceeds. XFN-ASIA



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