STATE OIL COMPANY

Within the framework of cooperation between SOCAR and "DeGolyer and MacNaughton", work on counting 27 fields according to SPE-PRMS classification in the Azerbaijani sector of the Caspian Sea has started, Trend reports.

According to the State Oil Company of Azerbaijan Republic (SOCAR), a meeting was held between SOCAR President Rovshan Najaf and Chairman and CEO of DeGolyer and MacNaughton John W. Wallace.

State Oil Company of the Azerbaijan Republic (SOCAR) is fully owned by the state and its rating is equalised with that of Azerbaijan (BB+/Stable) under Fitch Ratings’ Government-Related Entities (GRE) Rating Criteria. This is underpinned by state support provided to the company in the form of financial guarantees, cash contributions and equity injections, as well as SOCAR’s social functions and its importance as a state vehicle for the development of oil and gas projects.

Azerbaijan's State Oil Company (SOCAR) has signed an agreement on the right to export Rosneft's oil products to Ukraine, Poland, and the Baltic states, Russian media sources reported with the reference to the company’s Deputy Head of Public Relations Ibrahim Ahmadov.

The State Oil Company of Azerbaijan (SOCAR) will issue new bonds for the domestic market on September 20, 2021, taking into account numerous applications and a great demand for these securities from investors, SOCAR Capital LLC stated.