SOCAR to invest 1bln manat in projects in Azerbaijan in 2009

Oil&Gas Materials 3 June 2009 12:34 (UTC +04:00)

Azerbaijan, Baku, June 3 / Trend , E.Ismayilov/

The State Oil Company of the Azerbaijan Republic (SOCAR) will invest 1 billion manat in local projects this year, SOCAR high ranking official said.

"The program has been submitted to adjusted agency for confirmation, but still has not been confirmed," the official said.

The program envisages investments for each enterprise of the company. There are 18 enterprises. In addition, investments will be made in the prospective Umid field in the Caspian Sea and other exploration works.

The investment program will also invest in ecological and other social purposes.