Bank Of Baku

SOCAR to invest $1.2 billion this year

SOCAR to invest $1.2 billion this year
# 08 June 2009 15:21 (UTC +04:00)
Baku - APA-Economics. State Oil Company of Azerbaijan (SOFAZ) expects to invest AZN 1 billion in 2009 (about 1,243 billion dollars).

SOCAR Vice-President Suleyman Gasimov said the company has submitted the income and expenditure estimates for 2009 to the Cabinet.

“The estimate includes investment in all 18 entities and funds for the exploration of the Umid Deposit. We estimate the total investment will be AZN 1 billion,” he added.

He also noted that the estimate offers various investment options, depending on the company’s revenue.
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