Press release

Nargiz Karimova, EY Assurance Partner, speaks at the Offshore Support Vessels Caspian Region conference

Baku, 10-11 March 2015

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The Offshore Support Vessels Caspian Region conference, the industry’s first OSV conference for the region, took place on 10-11 March 2015 at the Hyatt Regency Baku. Supported by the local alliance of OSV operators, the Azerbaijan Caspian Shipping Company and Caspian Marine Services, the event was unique for this international industry. Participants gained insights into entry of new market players, partnership with local companies, business models in the Caspian and vessel requirements.

The Conference’s first session addressed the prospects for offshore support vessels in the Caspian Region . Nargiz Karimova participated in this session, making a presentation on global trends in E&P. The presentation focused on global economic trends impacting energy consumption, oil prices as a key challenge for the industry, oil and gas discovery trends, trends in upstream CAPEX and an economic overview of countries neighboring the Caspian Sea.

“First of all, I would like to thank the organizers for the opportunity to take part in an event where high-caliber professionals and key executives of leading marine shipping companies share their knowledge and experience related to this industry. Numerous speakers involved in the marine industry discussed challenges related to operations in the Caspian Sea, key market players, customer needs and opportunities for the development of marine shipping in the region. I think this event is of high significance for the country, which is in the process of developing its marine shipping industry,” said Nargiz.

The conference agenda covered a range of issues, including market outlook, operations and vessel features. The result was to help regional oil and gas companies and OSV operators to outline and share market strategies and partnership opportunities.

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EY in Azerbaijan
EY made a major commitment to Azerbaijan and the region with the opening of our office in Baku 20 years ago. Today, in addition to being the leading audit firm in Azerbaijan, we are the leading firm in the region. Because of our experience and depth of knowledge, we have been able to assist both domestic and international companies as well as state-owned entities in developing and in facing the challenges of the international economy.

2014 was the 20th anniversary of EY in Azerbaijan. We currently have more than 170 staff in our Baku practice, who serves our clients in Azerbaijan. EY's strength in the Caspian Region and the firm's commitment of resources are important to the entities operating in the region. It means that as we grow, EY will continue to demonstrate a tradition of hiring and training local professionals to be leaders in our practice.