Suleyman Gasimov: 'Debts don't pose any problem to SOCAR'

Last year SOCAR repaid debt of over 1 billion USD for projects in Turkey

Baku. 27 April. REPORT.AZ/ Total debt of the State Oil Company of Azerbaijan Republic (SOCAR) makes 6,3 billion USD.

Report informs, SOCAR Vice President for economic issues Suleyman Gasimov said at today's meeting with members of the Caspian European Club (CEC).

'These debts are sensitively managed. Amount of the debts, repaid this year, is not so great. They have been borrowed from the State Oil Fund in regard with purchase of share from ACG, construction of Baku Shipyard. We owe to the International Bank, part of this debt will be paid at the expense of the company's profit, another part of the state funds for the period of 10 years', Vice President said.

According to S.Gasimov, last year SOCAR repaid debt of over 1 billion USD to Turkish companies for projects in Turkey. The company's official said that to the beginning of this year, debts of 400 million USD have been paid regarding bonds: 'Debts are constantly managed and don't pose any problem to SOCAR'. 

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