ECONOMY


SOCAR to receive first tranche of loan from International Bank of Azerbaijan

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Baku, October 15, AZERTAC

Azerbaijan's state oil company SOCAR will soon receive the first tranche of loan amounting to 1.86 billion manats from the International Bank of Azerbaijan, company's vice-president for economic issues, Suleyman Gasimov said.

"Out of the total amount of the loan, 1.26 billion manats will be spent to upgrade the oil refinery named after Heydar Aliyev, while 600 million manats will go to drilling at the 'Bulla Deniz' field and at the shallow part of the Gunashli field," he added.

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