Caspian Energy

CASPIAN INTEGRATION BUSINESS CLUB HOLDS CASPIAN ENERGY INTEGRATION AWARD - 2007 PRIZE AWARDING CEREMONY

AWARDING CEREMONY

The Caspian Energy Integration Award - 2007 Prize Awarding Ceremony took place on March 27, at Gulustan Palace. The prizes were awarded to companies and organizations that display the greatest activity in the industrial and social life of their countries and rapidly extend their geographies in global markets.

The marketing survey carried out among businessmen through the elapsed year reflects all main global trends of today that involve Azerbaijan and the Caspian region as whole, said Telman Aliyev, President and CEO, CIBC, opening the 3^rd CASPIAN ENERGY INTEGRATION AWARD - 2007 International Elite Prize Awarding Official Ceremony in Gulustan Palace in Baku on March 27, 2007. The prize was instituted by the Caspian Integration Business Club (CIBC).

Telman Aliyev said by the results of survey the Caspian Integration Business Club has conducted in 32 countries worldwide among top and medium-level managers of 1,500 companies (7,500 respondents) operating in the Caspian, Black Sea and Baltic regions (members of the Caspian Integration Business Club and readers of publications of Caspian Energy International Printing House), HE President of the Republic of Azerbaijan Ilham Heydar oglu Aliyev was announced the laureate of the CASPIAN ENERGY INTEGRATION AWARD - 2007 International Elite Prize in the chief nomination (top-level prize) "REFORMER OF THE YEAR" for his personal contribution to the regional economic integration of the countries of the Caspian-Black Sea region and creation of the integrated international transport system of Kazakhstan, Azerbaijan, Georgia and Turkey.

According to the results of the same survey, President of the European Commission Jose Manuel Barroso was announced the laureate of Grand-Prix of the CASPIAN ENERGY INTEGRATION AWARD - 2007 International Platinum Prize in the nomination "CONSOLIDATION AND DEVELOPMENT" for his contribution to enlargement of the global economic space and the EU's active economic cooperation with the countries of the Caspian region.

Azerbaijan today is a key export and transit link for Caspian energy resources towards Europe. And European countries, encouraged by extending borders of the EU, are the natural open market for these resources. "For this reason CIBC is going to proceed with supporting, at the information level, all the designs that are more or less linked to extension of the Caspian-European transport corridor, development of the non-oil sector of economy, and involvement of new international partners", Telman Aliyev emphasized, providing details on the CIBC's activities.

"This year is quiet special as five years ago the Club was launched when His Excellency President of Azerbaijan Ilham Aliyev supported this incentive and kindly agreed to become a Honorary Chairman of CIBC-Azerbaijan in June 2002", Telman Aliyev said.

The CIBC's primary objective is promotion, in terms of information, of positive integration economic processes in Caspian region, initiated by signing the "Contract of Century" by the national leader of Azerbaijan Heydar Aliyev on September 20, 1994.

Through the time of its progress, the Club consolidated the region's business-community, created a number of branch specific Clubs that are currently working actively to exchange information and maintain intensive business-government dialog. During the past year alone the Club arranged three meetings with heads of governments of leading countries of the Black Sea region: Turkey, Georgia and Moldova, which is an obvious evidence of broadened bounds of Club's activities throughout the Caspian-Black Sea region.

The Club is actively running beyond the bounds of the Caspian region and companies from the EU's economic space are joining it. The Club organizes agile open and private discussions, arranges exchange of opinions on one or another actual problem concerning both Azerbaijani economy and international aspects of its development. The Club is visited by key ministers, heads of major state-owned and private holdings and large international banking structures, as well as officials of diplomatic missions of countries concerned in closer economic cooperation with countries of Caspian and Black Sea region.

"Within the Club, at the information level, the basis is laid to raise the commodity turnover among the countries of region; Azerbaijani and foreign companies that open new representative offices upon joining the Caspian Integration Business Club extend their operating geographies", Mr Aliyev said.

The Club's success is also evidenced by the significant increase of number of its members, from 14 in 2002 to over 300 today. Companies of both oil and non-oil sector of economy are represented within the Club. The Club today is actively working to boost the projects in the non-oil sector of economy that will, in the closest outlook, enable to comply with the objective set by President of Azerbaijan Ilham Aliyev: to raise non-oil sector revenues to those from the oil sector. As known, the priority sphere was chosen the information technologies, telecommunications, innovative sector; the Club already made certain steps in this direction.

"We hope and pray this year the Club will expand its activities and proceed with even more active work with Turkmen and Iranian companies already represented in the Club, as well as with many European companies and specialized Club associations with the aim to expand CIBC's international activity", Mr Aliyev resumed.

Speaking at the ceremony, famous sculptor Azad Zeynalov, member of the Union of Artists, Docent of Azerbaijan Academy of Art and author of CASPIAN ENERGY INTEGRATION AWARD statuette, said the work was made of bronze. He said it symbolized an oil gusher with five edges (five littoral states) with the Caspian Sea cut out in the center.

Speaking at the Caspian Energy Integration Award - 2007 Prize Awarding Ceremony, Head of the Ministry of Industry and Energy Natig Aliyev said ‘our meetings within the Club have already become a tradition. The third consecutive year the Club member-companies are awarded the CASPIAN ENERGY INTEGRATION AWARD Prize. As a matter of fact, the Club is enhancing its potential and fortifies its positions, a sign of a favorable business-climate in Azerbaijan and success in various spheres of business".

Natig Aliyev recalled President of Azerbaijan Ilham Aliyev speaking Azerbaijan's successes at the extended session of the government early his year, when he especially outlined the year 2006 as the most successful for the country's economy.

Minister said this has chiefly reflected in growth of GDP. Big success was achieved not only in the oil but also in the non-oil sector, with obvious revival today. The greatest achievement of the past year, Natig Aliyev said, was the launch of Heydar Aliyev Baku-Tbilisi-Ceyhan oil pipeline.

"We are waiting impatiently for the launch of production at Shah Deniz, which will bring Azerbaijan to a brand-new level and it will be recognized not as an oil exporting country but as a natural gas exporter", Minister said.

He said the South Caucasian Pipeline connecting Azerbaijan to Georgia and Turkey had been brought online this year. In the future this gas pipeline should link Azerbaijan to Europe and Azerbaijani gas and the gas from Caspian region will be consumed in European countries. "This is a very important project, just like NABUCCO underway in Europe. Turkey has already launched this project; it is also run by leading Austrian and Hungarian companies", the Minister said.

By and large, Minister said, a challenging time has come to the countries of Caspian-Black Sea region in conditions of globalization. "This region is in the center of attention of world's leading countries and we see important events taking place across the region today. The battle for resources and the war of energy corridors are breaking out, and we are ready to them all. Stating its independence, despite all external impacts Azerbaijan has developed its export routes so far, from the commencement of the oil & gas strategy realization by the national leader of Azerbaijan Heydar Aliyev in 1993", N. Aliyev underlined.

Today, after years, said Co-Chairman of the Club, ‘we might say Azerbaijan not only acquired its political independence but also ensured its energy security.'

"The companies within the Club have contributed greatly to this success", said Minister of Industry and Energy Natig Aliyev. In Azerbaijan are operating thousands of companies, and not only in the oil sector. "And if in 2002 the Club united only the oil sector companies, today it brings together the entities engaged in communications and IT, construction, transport and other spheres", Minister said.

Natig Aliyev said the year 2007 would be good for Azerbaijan. "Azerbaijan did achieve and will be achieving a good success in the non-oil sphere. I think Azerbaijan will reach even higher level of development and by 2010, by our estimations, the GDP will grow in about three times", Minister went on.

He said in 2008-09 BTC pipeline will be running to capacity and Azerbaijan exporting more than 50 MT of oil per annum.

Minister suggested the Azerbaijan's non-oil sector having a lot of opportunities and the entire country bearing a huge resource potential. Alongside, Azerbaijan's geographical and political situation is so advantageous that large foreign companies are eager to invest in its economy. "These opportunities are on hand and we have just laid the foundation for this development so far. In the outlook ever greater work is nigh. In 5 years the revenues of non-oil sector shall reach those of the oil sector", Natig Aliyev underlined.

"I think the companies within the Club will pay their shot to complete this objective", said Natig Aliyev, encouraging the businessmen to follow up. Congratulating all winners of CASPIAN ENERGY INTEGRATION AWARD - 2007 Prize, Minister of Industry and Energy Natig Aliyev said ‘our cooperation within the Club will help us achieve all this success.'

Natig Aliyev, Minister of Industry and Energy of Azerbaijan and permanent Chairman of CIBC, was the winner of the survey in the first degree nomination "For Special Contribution to Implementation of International Transport Corridors" of CASPIAN ENERGY INTEGRATION AWARD - 2007 Prize.

"Azerbaijan is very influential in the region and international arena alike as an active participant of the energy market and it is steadily shifting to the non-oil sector development", said Ali Abbasov, Minister of Communication and IT of Azerbaijan, speaking at the CASPIAN ENERGY INTEGRATION AWARD - 2007 ceremony.

In this respect, said Ali Abbasov, the information and communication technologies (ICT) shall be considered the priority sphere of Azerbaijan's further economic development.

"I would say, the people working in communications and IT sphere fully realize the high responsibility imposed by these objectives", Minister said.

The governmental policy of President of Azerbaijan Ilham Aliyev comprises Azerbaijan's enhanced role as a regional and international player.

And in such situation, said Abbasov, the big role plays the Caspian Integration Business Club that brings together the interests of companies operating in various sectors of economy of region's countries in order to resolve regional and international problems.

Minister said through such policy the Club will be playing the long-lasting and significant role in overcoming the challenges we face. "I think the prize I was handed today is a high appraisal of work the people involved both in the governmental and private sectors of communications and IT have performed", Minister stressed.

"We together with CIBC will always be participating actively in solving various problems facing Azerbaijan and the region as whole", Ali Abbasov resumed.

Ali Abbasov, Minister of Communication and IT of Azerbaijan, was the winner of survey in the first degree nomination "For Contribution to Development of Information Technologies" of Caspian Energy Integration Award - 2007 Prize.

Khoshbakht Yusifzadeh, First Vice-President of the State Oil Company of Azerbaijan, has expressed his gratitude for the high appraisal by the Club of his work in the oil & gas industry. "Specialists gathering at the ceremony played a big role in achieving success in this sphere. Certainly, it is a good deal of CIBC's merit her"», said Mr Yusifzadeh.

He wished the Club all the best in its further activities and jokingly asked the sculptor to split Caspian Sea by sectors on the statuette next time.

Khoshbakht Yusifzadeh, First Vice-President of the State Oil Company of Azerbaijan, was the winner of survey in the first degree nomination "For Special Contribution to Development of Oil & Gas Industry" of Caspian Energy Integration Award - 2007 Prize.

Speaking at the ceremony, Deputy Foreign Minister of Azerbaijan Mahmud Mammadguliyev underlined the significance of CIBC's appraisal. He said this is owing to, first, CIBC bringing businesspeople together, second, the award conferring by the results of survey (‘and I think this survey was democratic, transparent, open and complying with regulatory'), and, third, the name of the nomination.

"One of spheres of our activity is protection of our businessmen's interests in international markets", Mammadguliyev said. He said the Foreign Ministry and its diplomatic representations overseas were constantly involved in these issues.

"To modernize this work we are currently considering the establishment of Council of Businessmen under the aegis of the Foreign Ministry of Azerbaijan with participation of entrepreneurship organizations, private-owned and state companies", Mahmud Mammadguliyev went on. The Council aims at tracking the difficulties local businesspeople encounter in the international markets and solving them in order to simplify Azerbaijani commodities access to the markets of other countries. He called businessmen to cooperation under this project.

Mahmud Mammadguliyev, Deputy Foreign Minister of Azerbaijan, was the winner of survey in the first degree nomination "For Special Contribution to Strengthening Positions of Azerbaijan in the International Arena" of Caspian Energy Integration Award - 2007 Prize.

Dr. Zurab Gumberidze, the former Ambassador Extraordinary and Plenipotentiary of Georgia to Azerbaijan, has expressed his gratitude to the Club he had cooperated with from the very beginning.

He has also expressed his thanks for ‘appraisal of his work as an ambassador' and hoped that ‘his relations in this aspect are just beginning'.

Dr. Zurab Gumberidze, former Ambassador Extraordinary and Plenipotentiary of Georgia to Azerbaijan, was the winner of survey in the first degree nomination "For Special Contribution to Development and Strengthening of Relations Between Azerbaijan and Georgia" of Caspian Energy Integration Award - 2007 Prize.

Speaking at the ceremony, Huseyn Avni Karslioglu, the Ambassador Extraordinary and Plenipotentiary of Turkey to Azerbaijan, expressed his gratitude for conferring the Prize to Minister of Energy and Natural Resources of Turkey Hilmi Guler.

The Ambassador communicated the following words of Hilmi Guler to the gathering: "With bringing Baku-Tbilisi-Ceyhan and Baku-Tbilisi-Erzurum pipelines online and Azerbaijan's growing in energy sector, as well as the future construction of Baku-Tbilisi-Kars railway, the relations between Azerbaijan and Turkey will not cease. Azerbaijan's rapid economic development already cannot be stopped".

Speaking the integration in Caspian region, the Ambassador said "our dream is to connect to new pipelines our brotherly republics on the other side of the Caspian Sea - Kazakhstan and Turkmenistan. We are attaching great importance to these countries connection to Azerbaijan-Georgia-Turkey-Europe energy corridor".

Hilmi Guler, Minister of Energy and Natural Resources of Turkey, was the winner of survey in the first degree nomination "For Special Contribution to Activation of Energy Cooperation in the Caspian & Black Sea Region" of Caspian Energy Integration Award - 2007 Prize. The prize was awarded to Huseyn Avni Karslioglu, the Ambassador Extraordinary and Plenipotentiary of Turkey to Azerbaijan.

Speaking at the ceremony, Abdolbari Goozal, the President of Azersun Holding, said ‘through the development of Azerbaijan I get even more convinced I made a right choice.'

"The Club, which once started with tiny resources, has gained significant influence across the region so far and this should really be praised. This means all spheres of Azerbaijan are developing", businessman emphasized.

Commitment to economic principles laid by national leader of Azerbaijan Heydar Aliyev means Azerbaijan's rapid development, he went on. "I happened to visit various oil-rich countries. Due to unhealthy environment of oil revenues distribution those countries were progressing in a one-legged manner. In case multi-branch Clubs are spreading across the country, it is happiness for Azerbaijan and we are happy to sail this ship", Mr Goozal stressed.

In this respect, said President Azersun Holding, ‘we keep on working.'

"The Club evaluated the businessmen's work. If we value each other‘s work and support each other it will support our cause and enable us to take part in the country's capital improvement", Mr Goozal said, thanking the Club for this year's appraisal of his activity.

Abdolbari Goozal, President Azersun Holding, was the winner of survey in the first degree nomination "Entrepreneur of the Year" of Caspian Energy Integration Award - 2007 Prize.

Azercell acted as the Golden Partner of the Awarding Ceremony, MKT Istehsalat Kommersiya LLC - as the Silver Partner, Texnikabank as the Bronze Partner. Later on second degree Caspian Energy Integration Award - 2007 Prize was awarded to the companies and organizations that actively operated in the production and social areas in the territory of their states as well as rapidly extended their geographies in global markets.

Azercell Telecom was granted the Caspian Energy Integration Award - 2007 in the nomination "Maecenas of the Year". The prize was awarded to Kamilla Isayeva, Enterprise Relations and Social Responsibility Manager:

On behalf of the company I would like to express my sincere gratitude to the Organization Committee for such a high estimation of our activities and the prize awarded.

MKT Istehsalat Kommersiya LLC was granted the Caspian Energy Integration Award - 2007 in the nomination "Investor of the Year". The prize was handed to Nureddin Paksu, President MKT Istehsalat Kommersiya:

I would like to express my gratitude to the Caspian Integration Business Club for the prize awarded.

Texnikabank was granted the Caspian Energy Integration Award - 2007 in the nomination "People's Bank of the Year". The prize was awarded to Etibar Aliyev, Chairman of Supervisory Board:

On behalf of Texnikabank's team I congratulate the Caspian Integration Business Club, wish you success in such events. I also thank CIBC for creation of such conditions.

Azerigaz CJSC was granted the Caspian Energy Integration Award - 2007 in the nomination "For expansion of the regional infrastructure". The prize was handed to Nazim Samedzadeh, Deputy Chairman, Azerigaz:

On behalf of the company I thank the Club for the prestigious prize in this nomination. I hope and pray in the future we will achieve success in this nomination once more.

Azerenerji OJSC was granted the Caspian Energy Integration Award - 2007 in the nomination "For contribution to development of the energy sector". The prize was handed to Marlen Askerov, Vice-President, Azerenerji:

Let me thank the respondents for such a high award and appraisal of Azernerji's activities performed under the Decree on country energy security provision issued by President of Azerbaijan Ilham Aliyev.

Texas Nafta Industies, Inc. was granted the Caspian Energy Integration Award - 2007 in the nomination "For representation and application of the innovative "Bornemann" multiphase technology in oil & gas production". The prize was handed to Yashar Latifov, Vice-President:

We express our gratitude for the prize awarded and wish everyone engaged in the oil industry, regardless of the field, let geology, drilling, up-, mid- or downstream, or financing and management, made his contribution to the revival of Azerbaijani oil & gas industry by introducing the state-of-the-art technology.

PCH Offshore Pty Ltd was granted the Caspian Energy Integration Award - 2007 in the nomination "In recognition of the high standard of quality & safety in oil & gas industry". The prize was handed to Roy Nudd, Regional Manager:

Good evening. I would like on behalf of PCH thank all Club members. Safety and quality are playing factors in a success of companies in the oil & gas industry in Azerbaijan. Employees - all our employees - have the right to a safe working place, and we as employers have to provide a safe working place. We have to remove the hazards, if we can't remove hazards, we have to reduce them. If we cannot reduce them we have to control them. Azerbaijan is becoming a safer place to work. And being presented with this award is a measure of our contribution to safety and I hope your companies also will strive for recognition of your contribution to safety too. Thank you

FUGRO SURVEY Ltd. was granted the Caspian Energy Integration Award - 2007 in the nomination "Company of the Year in the Field of Geophysical and Geological Surveys. The prize was granted to Jan Middelkoop, Managing Director:

We are very pleased to receive the Caspian Energy Integration Award Prize. We kindly thank you for the high appraisal of the activity of our company.

BM International LLC was granted the Caspian Energy Integration Award - 2007 in the nomination "Law Company of the Year". The prize was handed to Jamal Bagirov, Senior Partner:

In my opinion, the participation in this event as such is an award. The Caspian Integration Business Club has been running for already 5 years. I express my thankfulness to all member-companies of the Club on behalf of myself and the team for voting for us. I learned the results in the Internet and saw nearly 90% member-companies had voted for our firm and I give thanks to you.

Baki Fahlasi AOOJSC was granted the Caspian Energy Integration Award - 2007 in the nomination "Machinery Plant of the Year". The prize was handed to Islam Feyziyev, Chairman of the Board:

I express my gratitude to the Caspian Integration Business Club for the prize awarded. Today's award is the appraisal of Azerbaijan's heavy engineering activity and work of Baki Fahlasi's team.

А+А Group of Companies was granted the Caspian Energy Integration Award - 2007 in the nomination "For introduction of up-to-date construction technology in oil & gas industry". The prize was handed to Rauf Aliyev, President:

Our only dream is the prosperity of Azerbaijan.

Panalpina Central Asia EC was granted the Caspian Energy Integration Award - 2007 in the nomination "Forwarding Company of the Year". The prize was handed to Rashad Gafarov, freight Manager:

I express my gratitude to the member-companies of Caspian Integration Business Club for the prize awarded to our company.

Kron Shipping (UK) Limited was granted the Caspian Energy Integration Award - 2007 in the nomination "Leader in Shipping". The prize was handed to Abulfaz Hajiyev, Director.

I thank our team for this development and the prize awarded by the Club. I express my gratitude to the Club for its activities and their results.

ABAD Ltd was granted the Caspian Energy Integration Award - 2007 in the nomination "Reliable Partner in Transportation". The prize was handed to Natig Heydarov, General Director:

On behalf of the company and the team I express my thankfulness for such a high appraisal of our activity. I hope we justify your expectations and do our best to continue the partnership and cooperation.

Parex Leasing & Factoring LLC was granted the Caspian Energy Integration Award - 2007 in the nomination "Leasing Company of the Year". The prize was handed to Ainis Soms, General Director:

I thank you for such a high appraisal of our company's activities. First of all I want to say over relatively short period of operation we achieved a certain success in leasing and financial sector as whole only thanks to the rapid growth of Azerbaijan's economy and its warm and friendly relations with Latvia. I would like to stress we enjoy the support of Latvia-based Parex Banka, our parent bank, with large financial resources. In future we are going to progress step for step with the economy of Azerbaijan.

Heydar Aliyev Baku Oil Refinery was granted the Caspian Energy Integration Award - 2007 in the nomination "Oil Refinery of the Year". The prize was handed to Nail Amirov, First Deputy Director:

I am grateful for the prize awarded to the Plant bearing the name of Azerbaijan's National Leader Heydar Aliyev. Thank you. I also would like to bring to your attention the best wishes of our multinational team.

ITE Group PLC and Iteca Caspian were granted the Caspian Energy Integration Award - 2007 in the nomination "Exhibition Company of the Year". The prize was handed to Farid Mammadov, Director Iteca Caspian:

On behalf of the company I would like to express my thankfulness for the high appraisal of our activities. Taking an opportunity, I state my gratitude for the indispensable support in successful arrangement of exhibitions and conferences to all governmental agencies, our partners and participants of this ceremony.

Azercell Telecom JV was granted the Caspian Energy Integration Award - 2007 in the nomination "GSM Company of the Year". The prize was handed to Ulviyya Mirgasimova, Marketing Manager:

We believe this is not the last award handed by Minister of Communication and IT of Azerbaijan. I hope Azercell will forever keep its leadership in Azerbaijan's telecoms market.

Azeurotel JV was granted the Caspian Energy Integration Award - 2007 in the nomination "Telecommunication Company of the Year". The prize was handed to Arif Badirov, Deputy Director General:

We express our gratitude on behalf of General Director Nuru Ahmadov, which is now out for a business trip, and our team for the prize awarded.

Sinam Company was granted the Caspian Energy Integration Award - 2007 in the nomination "IT Company of the Year". The prize was handed to Elchin Aliyev, President:

I express the gratitude to the CIBC Organization Committee and all member-companies of the Club for the prize awarded. I think this award is the honor and responsibility for us. Honor - because an appraisal was given to 15 years of our activity. Responsibility - because, as you know, President of Azerbaijan Ilham Aliyev defined the IT-sector as a priority field, next to the oil sector, and I think all the work is dwelling on this. I suggest in the nearest 3-4 years shall our IT-companies not only invade the markets of region, but also compete in the international markets.

Catel JV was granted the Caspian Energy Integration Award - 2007 in the nomination "CDMA Company of the Year". The prize was handed to Sadig Humbatov, General Director:

We, Catel Company, have the honor to accept this award and at the same time congratulate all compatriots that received this prize today.

Soliton, official distributor of Beko brand in Azerbaijan, was granted the Caspian Energy Integration Award - 2007 in the nomination "Brand of the Year". The prize was handed to Museib Bagirov, President:

We thank the member-companies of the Club, at the same time our customers and entities approving of our production and service for this high appraisal. We thank you and we intend to keep winning the Caspian Energy Integration Award survey.

AvirTel Ltd was granted the Caspian Energy Integration Award - 2007 in the nomination "For successful introduction of Toll-Free". The prize was handed to Esmail Shabani, General Director:

On behalf of AvirTel Ltd I express my gratitude to the member-companies of the Caspian Integration Business Club and Minister of Communication and IT Ali Abbasov, and I hope these events get traditional.

Smart System Technology was granted the Caspian Energy Integration Award - 2007 in the nomination "For contribution to software support and communication technologies". The prize was handed to Firuddin Akbarov, General Director:

We express our deep gratitude to the Organization Committee, member-companies of the Caspian Integration Business Club and Minister of Communication and IT Ali Abbasov for the prize awarded. We highly appraise this prize and congratulate all nominees.

Bayil Limani Offshore Exploration Drilling Department (OEDD) with Azneft PA of SOCAR was granted the CASPIAN ENERGY INTEGRATION AWARD - 2007 in the nomination "Leader in the Drilling Industry". The prize was handed to Farhad Mammadov, General Manager of OEDD:

The prize awarded to our team encourages us to achieve much more success in future. Taking into consideration the construction of our team to implementation of the gas programme set by President of Azerbaijan, Mr. Ilham Aliyev, we will do our best to achieve better results in this field. It is pleasant to receive this prize from the hands of Khoshbakht Yusifzadeh, the famous scientist in the oil & gas industry who has brought up hundreds of oilmen. I would like to thank the Club for such high appraisal and the prize awarded to our team.

MQS Ltd. was granted the Caspian Energy Integration Award - 2007 Prize in the nomination "Oil Service Company of the Year. The prize was awarded to Elnar Allahvardiyev, Regional Director:

On behalf of the management and the team of the company I would like to thank the Organization Committee for such high appraisal of our company's activity.

Caspian Wireline Services Ltd. was awarded the Caspian Energy Integration Award - 2007 Prize in the nomination "Efficient problem-solving in oil & gas industry". The prize was granted to Calvin Wilson, President:

Caspian Wireline is appreciating the opportunity to do business in Azerbaijan since 2000 and to continue to participate in prosperity growth in Azerbaijan. Thank you.

Gilan Holding was granted the Caspian Energy Integration Award - 2007 Prize in the nomination "Holding of the Year". The award was handed to Uzeir Panahov, Deputy General Director:

We would like to thank the Club for the high appraisal of the activity of our company. It is a great honour for us to receive the prize from the hands of First Deputy President of SOCAR Khoshbakht Yusifzadeh.

Azersun Holding was awarded the Caspian Energy Integration Award - 2007 Prize in the nomination "Brand of the Year in Food Industry". The prize was granted to Akhmad Yeman, Vice-President:

On behalf of the team of Azersun Holding Group of Companies I would like to thank CIBC for the high appreciation of our business activity. Azersun Holding produces high-quality foodstuffs. The motto chosen by President of Azersun Holding Abdolbari Goozal is "The quality is our life". Adhering to this principle we manufacture qualified goods for Azerbaijan and other countries of the world. This is not the first prize awarded to Final brand, the famous brand in Azerbaijan. In 2006 at the Coffee & Tea Festival that took place in Moscow and hosted the representatives from over 70 countries across the globe, Final brand won the Grand-Prix, the highest award of the festival. Today we, with great pride, receive the second prize for Final brand, for Azerbaijan, and regard this award as the success of Azerbaijan. I would like to express my gratitude to the Organization Committee that awarded this prize to us and for high appraisal of our operation. This encourages us to win new prizes.

Azer-Ilme Ltd. was grated the Caspian Energy Integration Award - 2007 Prize in the nomination "Revival and Development of Azerbaijani Carpet Weaving". The prize was awarded to Khadija Asadova, Deputy Director:

On behalf of the team and Director General of Azer-Ilme Ltd. Vidadi Muradov I would like to express my gratitude for the awarded prize and high appreciation of the activity aimed at immortalizing this noble profession.

Ateshgah Insurance Company was granted the Caspian Energy Integration Award - 2007 Prize in the nomination "Leader of the Insurance Market". The prize was awarded to Intigam Huseynov, Director General:

I receive this prize with deep gratitude and regard it as your appreciation of our activity. I would like to congratulate all winners of the Caspian Energy Integration Award - 2007 Prize.

Nikoil Investment & Commercial Bank was awarded the Caspian Energy Integration Award - 2007 Prize in the nomination "For investment attractiveness". The prize was granted to Emil Mammadov, Deputy Chairman of the Board:

On behalf of the team and the management of the bank I would like to express gratitude to the Caspian Integration Business Club for Caspian Energy Integration Award grated to us.

Bank Respublika was granted the Caspian Energy Integration Award - 2007 Prize in the nomination "For successful implementation of banking technologies". The prize was awarded to Khadija Hasanova, Chairman of the Board:

We would like to express our gratitude to the Caspian Integration Business Club on behalf of Bank Respublika for the Caspian Energy Integration Award grated to us.

Bashak Inam Insurance Company was awarded the Caspian Energy Integration Award - 2007 Prize in the nomination "For high professionalism in the insurance business". The prize was granted to Orkhan Hasanov, Director General:

We would like to thank the management and the member-companies of the Caspian Integration Business Club for the organization of the solemn Caspian Energy Integration Award - 2007 Prize Awarding Ceremony. I congratulate all winners and wish successes.

Thames Insurance Group was granted the Caspian Energy Integration Award - 2007 Prize in the nomination "Insurance Company of the Year in the Field of Motor Transport. The prize was awarded to Emin Asgarov, Deputy Director General:

On behalf of the management and founders of Thames Insurance Group we would like to express our gratitude to the organizers of the Caspian Energy Integration Award Prize Awarding Ceremony and the customers that have chosen us.

Forex-Az was awarded the Caspian Energy Integration Award - 2007 Prize in the nomination "Dealing-Investment Company of the Year". The prize was granted to Elshan Guliyev, Director:

We would like to express our gratitude to the member-companies of the Caspian Integration Business Club for deep trust. We wish successes in their future activity.

Caspian Service International Construction Company was granted the Caspian Energy Integration Award - 2007 Prize in the nomination "National Traditions in Construction". The prize was awarded to Rahim Sultanov, Chairman of the Board of Directors:

We would like to express our gratitude to the Organization Committee of the Caspian Integration Business Club for the awarded prize. To preserve the national traditions is the major part of our business. In particular, when implementing construction abroad we show the Azerbaijani architecture.

Azerkorpu was granted the Caspian Energy Integration Award - 2007 Prize in the nomination "For contribution to improvement of the Azerbaijan infrastructure". The prize was awarded to Shakhbaz Gasymov, Deputy Chairman of the Board of Directors:

I would like to express my gratitude for the appreciation of our company as a contributor to the development of the country's infrastructure, and on the whole, to the well-being of the republic. I assure we will keep on working in this direction.

Sharur Inshaat was awarded the Caspian Energy Integration Award - 2007 Prize in the nomination "For creating affordable conditions for people". The prize was handed to Isfandiyar Ahundov, President:

Today I dare confidently say dreams in Azerbaijan come true. I would like to thank businesspeople and member-companies of the Caspian Integration Business Club who voted for our company as due to them our company has won the first position in the survey. I express my gratitude for the favourable conditions created in the country thanks to National Leader of Azerbaijan Heydar Aliyev who laid the appropriate basis for that. I would like to thank incumbent President Ilham Aliyev who is following this strategy. We are pleased to know our company makes our modest contribution to economic upturn and well-being of Azerbaijan. I assure we will do our best for the sake of Azerbaijan and its further progressing.

Azalsan Ltd. was granted the Caspian Energy Integration Award - 2007 Prize in the nomination "For high-quality production of construction materials". The prize was handend to Mammad Valiyev, Director General:

First of all, I am, the distinguished engineer of the republic, pleased to receive this prize from the hands of honoured engineer of the republic Khoshbakht Yusifzadeh. Secondly, if we, businessmen, who worked as directors in the FSU times receive this prize, it means Azerbaijan had the industrial potential in the past, has it now and will keep on developing this potential in future. Thirdly, it is a great honour for Baki Fahlasi, one of the plnats-flagships in Azerbaijan where I have worked for 15 years, to be among the winners of this prize. I would like to congratulate the management and the labour team of the plant on this prize.

Nurgun Motors was granted the Caspian Energy Integration Award - 2007 Prize in the nomination "Car Service Centre of the Year". The prize was handed to Kamaleddin Aliyev, Director General:

On behalf of Nurgun Motors I would like to express our gratitude to the management and member-companies of the Caspian Integration Business Club for appreciation of the activity of our company.

Photos of the winners and the guests of the ceremony were taken upon completion of the Caspian Energy Integration Award - 2007 Prize Awarding Ceremony.