Oil & Gas

SOFAZ assets increase by 5.1pct

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-March, 2018 reached 4.4 billion manats ($2.59 billion), while budget expenditures amounted to 2.3 billion manats ($1.35 billion).
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Azerbaijani-UK JV passes state registration

A joint venture of Azerbaijan’s state oil company SOCAR and UK’s Petrofac international service provider to the oil and gas production and processing industry - SOCAR Petrofac passed state registration, Vergiler, the newspaper of Azerbaijan’s Taxes Ministry, reported April 18.
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SOCAR completes deal to acquire stake in TANAP

SOCAR Turkey Enerji AS, a subsidiary of Azerbaijan’s state oil company SOCAR in Turkey, became the owner of a 7 percent stake in the Trans Anatolian Natural Gas Pipeline (TANAP) project, Saltuk Duzyol, head of the TANAP Consortium, said at a press conference in Turkey’s Eskisehir city April 17.
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