Azerbaijan, Baku / corr Trend S.Aliyev / Azerbaijan's revenues form the implementation of the oil projects will increase this year as compared to the forecast, the State Oil Company of Azerbaijan (SOCAR) said. However, final sum of revenues will be defined as a result the year, SOCAR said.
Earlier, ВР Azerbaijan said that this year Azerbaijan will receive $4.7bln as compared to $3.5bln at the beginning of the year. SOCAR asserts on the increase of incomes, whereas the final figure will be defined as a result of the year.
Azerbaijan President Ilham Aliyev said to the meeting on the situation in the country's energy sector in the run up to winter that SOCAR has been cooperating with foreign companies for many years and fulfills its obligations.
"There was not a case when the State Oil Company of Azerbaijan (SOCAR) did not fulfill its commitments or violated the terms of the agreement. We are reliable partners and such activities by SOCAR played considerable role in the establishment of favorable investment climate in Azerbaijan," the President said.
Azerbaijan is fair in demanding foreign partners to observe the rules specified in all contracts. "It is impossible to include changes to the terms of the contract. The contract is a law and issues included in it should be resolved, President Aliyev
The President voiced his confidence that business relations, as well as the mutual confidence between the SOCAR and foreign partners over the past 10 years, or for longer period, should be cont8inued. Both sides will observe their obligations and fulfill their commitments timely, the head of state said.