US Company to Re-appraise SOCAR’s Property, Non-material Assets
Azerbaijan, Baku / Trend corr A. Badalova / US American Appraisal company will re-appraise the property and non-material assets of the State Oil Company of Azerbaijan Republic (SOCAR), SOCAR Vice-president on Economic Affairs, Suleyman Gasimov, said on 5 October.
Re-appraisal is caused by SOCAR's plans to turn to International Standards of Fiscal Accounting on 1 January 2008.
American Appraisal will complete re-appraisal of SOCAR's property and non-material assets by 1 January 2007.
According to Gasimov, PricewaterhouseCoopers has already developed the terms of the tender on re-appraising
"By the end of the year the work will be completed," Gasimov said.