Azerbaijani Economy 11 july — 14:39

Billion for SOCAR

180

In 2018, the State Oil Company of Azerbaijan (SOCAR) received from the state budget 959.5 million manats. As informs Trend Agency, this is stated in the Law on the Execution of the State Budget of Azerbaijan for 2018.

As noted, the money was allocated to carry out drilling operations at a number of fields and to cover losses in connection with the sale of gas to Azerenergy OJSC.

'Of these, 663.2 million manats were allocated to carry out drilling at the Umid, Karabakh and Babek fields, and 296.3 million manats were directed to cover losses of SOCAR in connection with the sale of imported gas to Azerenergy at the price lower than its contract value,' the law says.

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