The State Oil Company of Azerbaijan Republic (SOCAR) is preparing for operations at Karabakh and other promising fields, Trend reports quoting Rovnag Abdullayev, SPCAR president, speaking in Baku at В"Sustainable development of oil&gas operations in Caspian SeaВ" conference.
Abdullayev said SOCAR is going to keep on working in this direction. В"Some 65mt of oil will be produced in Azerbaijan by 2010В", - he said. Now SOCAR is restructuring itself, alongside extending exploratory, geophysical, geotechnical, etc. operations. It is also training new staff.
Abdullayev said also the company will be exposed to the international audit in 2007. SOCAR is also among the companies suggested to pass to international accounting standards in 2008.