SOCAR invests $2.9 bln in foreign countries
State Oil Company of Azerbaijan has invested $2.9 bln in foreign countries so far, said the SOCAR Vice-President for Economic Issues Suleyman Gasimov.
He says these include investments in Turkey, Ukraine, Georgia, Switzerland and other countries: “The projects under implementation by SOCAR abroad are being financed gradually. For example, worth of SOCAR’s subsidiary company in Turkey Star is $ 5 bln. Of this, 41.5% belongs to SOCAR”.
Commenting on domestically investing by SOCAR, Gasimov said that AZN 1 mln is invested in each of the domestic projects implemented by SOCAR per year: “this includes drilling of oil-gas wells, construction of platforms, pipelines and other projects”.