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Baku. 15 October. REPORT.AZ/ Today credit indebtedness of the State Oil Company of Azerbaijan Republic (
According to him, SOCAR credit debt decreased from 7.9 to 6.9 billion USD.
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SOCAR to receive 260 mln AZN credit from International Bank soon
Baku. 15 October. REPORT.AZ/ In the coming days State Oil Company of Azerbaijan Republic (
He said that 1 bln 260 mln manats will be spent on reconstruction of Baku Oil Refinery named after Heydar Aliyev, 600 million manats for drilling wells in "Bull", "Guneshli" fields. He stated that, Cabinet of Ministers gave a relevant order, and the State guarantee will be maintained by the Ministry of Finance. S.Gasimov said that, the contracts are signed, the paperwork, which required to obtain the new tranche is nearing completion.
According to him, 200 million manats of the first tranche will be spent on drilling, 50-60 mln. manats on reconstruction of the refinery: "Repayment of the loan, aimed at drilling operations will be carried out through the implementation of well production, but repayment of amount to be spent for reconstruction will be maintained within 10 years from state budget."
S.Gasimov added that, the loans are long-term, and the term of repayment of the loan for the reconstruction was extended on concessional terms from 3 to 10 years, on oil and gas extraction for 5-6 years.