Spring 2002 (10.1)
Projects in Baku
by Shiro Morita, Chairman
Left: Itochu donated computers to the Azerbaijan
State Oil Academy and Baku Computer College.
Right: (far left) Kotaro Morishita, general
manager of Itochu's Baku office, (middle) Shiro Morita, chairman
of ITOCHU, Oil Academy Rector Siyavush Garayev and Deputy Education
Minister Elmar Gasimov.
ITOCHU Oil Exploration
Co. first came to Baku in February 1996, when it joined the AIOC
Consortium for the ACG (Azeri-Chirag-Gunashli) Project. At that
time, ITOCHU Oil was the first Japanese company to open an office
in Azerbaijan. We believe that our leadership set a good example
for other Japanese companies; since we arrived here, many other
large Japanese trading companies have also established a presence
In December 1998, ITOCHU Oil and three other Japanese companies
signed a contract with SOCAR for the Atashgah/Yanan Tava and
Mugan Daniz prospective structures. ITOCHU Oil is also participating
in the important Baku-Tbilisi-Jeyhan pipeline project.
One important aspect of the company's activities in Azerbaijan
has been its involvement in various humanitarian aid programs.
Over the past five years, ITOCHU Oil has made several donations
to victims of natural disasters such as earthquakes, landslides
and floods. In cooperation with the Government of Azerbaijan,
the company has also provided assistance to refugees from Nagorno-Karabakh.
In addition, ITOCHU Oil has supported the development of culture
and sports in Azerbaijan.
Our latest endeavor is the creation of the ITOCHU Oil Fund, to
which the company plans to contribute $10,000 each year. On the
recommendation of Abid Sharifov, Deputy Prime Minister, ITOCHU
Oil has decided to focus this year's assistance on education.
Our company was grateful to receive the advice of Misir Mardanov,
Minister of Education, regarding the use of this year's project.
As a first step in the mutual cooperation between ITOCHU Oil,
the Oil Academy and the new Baku Computer College, we presented
computers and color printers. ITOCHU Oil is pleased to offer
this help to young Azerbaijanis, in their quest to learn computer
skills for an ever-changing and developing world.
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