Oil Fund of Azerbaijan to start financing of TANAP pipeline and SOCAR OGPC in the nearest future
Baku, Fineko/abc.az. State Oil Fund of Azerbaijan (SOFAZ) will start financing of TANAP project before the end of this year.
According to Shahmar Movsumov, the Executive Director of SOFAZ, this year the Fund has already started financing SOCAR projects – oil refinery in Turkey (Star) and construction of the VI-generation floating semi-submersible drilling rig (SDR).
“In the nearest future the Fund will start financing of the new petrochemical complex SOCAR OGPC. The preparation works for the TANAP project financing are in their closing stage. The financing of this project will also be started before the end of this year”, - Movsumov said.
The Budget for 2013 allows the Fund to allocate AZN 596.6 million for Star oil refinery, AZN 388.575 million – for SDR, AZN 211.950 million – for SOCAR OGPC and AZN 86.350 million – for TANAP this year.
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