Industry and Energy

Home page

Industry and Energy

Capital investments of SOCAR within the next 25 years will amount to $ 33 bn

10 April 2012 08:59 (UTC +04:00)

The vice-president of SOCAR on economic issues Suleyman Gasimov says the development program of SOCAR for the next 25 years has already been approved and on preliminary estimates, its total value amounts to AZN 26 billion: â€œHowever, this figure may changeâ€.

Gasimov added that the financial report on the results of SOCAR in 2011 had been prepared, but did not pass an audit: â€œOur report has been prepared and sent to foreign banking organizations to whom we are responsible. An audit is planned for mid-Juneâ€.

Along with this, Gasimov said that SOCAR had already submitted the calculations on revenues and expenditures for the current year to the appropriate state agencies. Only for this year capital investments of SOCAR are projected at AZN 1 billion.