SOCAR to pay up for increase of share in AIOC till 2024
Baku, Fineko/abc.az. State Oil Company of Azerbaijan (SOCAR) has undertaken long term liabilities within increase of share in Azerbaijan International Operation Company (AIOC), main oil producer in the country.
According to SOCARs financial report for 2011, till 2024 the company will pay up for $485 million ( AZN 381.452 million) attracted from State Oil Fund of Azerbaijan (SOFAZ) for purchase of 1,65% BP equity stake in AIOC. The deal was concluded on 6 July 2011 and increased SOCARs share in AIOC up to 11,65%.
SOCARs report for 2011 was audited by Ernst&Young Company.
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