President of Azerbaijan: We direct oil revenues to giant projects

Baku. 18 May. REPORT.AZ/ “A large part of investments in Azerbaijan was made by foreign companies. Investments to this plant was made by Government of Azerbaijan”.

Report informs, President of Azerbaijan Ilham Aliyev has today said at the opening ceremony of semi-submersible drilling plant named after Heydar Aliyev in offshore supply and logistics base of SOCAR’s Caspian Drilling Company.

President said that funds invested for the implementation of this project either by the State Oil Fund of Azerbaijan (SOFAZ) or by the State Oil Company of Azerbaijan (SOCAR) close to $ 1 billion: “So it  demonstrates our strength and also our possibilities. It also shows that oil industry in Azerbaijan is successfully developing. Today, citizens of Azerbaijan are working successfully in all major oil projects, bring great benefits to themselves and country”.

The head of state noted that establishment of this drilling rig is a historic event.