Deutsche Bank London allocates loan to SOCAR
Azerbaijan, Baku, Nov. 5 / Trend, E. Ismayilov /
Deutsche Bank London has allocated a loan worth $100 million to the State Oil Company of Azerbaijan (SOCAR), a source in SOCAR said today.
The source didn't comment on the loan's terms and directions for its use.
Deutsche Bank London has also allocated a loan worth $80 million to SOCAR with a maturity of one year and possibility of extension with the margin of two percent per annum Nov.17, 2009.
SOCAR conducts oil and gas operations in Azerbaijan, and holds assets outside the country. The company itself conducts exploration and development of fields, both on land and in the Azerbaijani sector of the Caspian Sea. SOCAR together with foreign companies is engaged in the development of the block of offshore fields Azeri-Chirag-Guneshli and Shah Deniz gas field.