SOCAR investment in Turkey to exceed $18 billion

Baku, December 15, AZERTAC

The investment made by Azerbaijan`s state oil firm, SOCAR, in Turkey will exceed $18 billion, said the company`s President Rovnag Abdullayev.

He said SOCAR has invested $3.7 billion in STAR oil refinery so far, pointing out that work on the project is 80 per cent complete.

Abdullayev said talks continue with foreign banks to attract funding for TANAP project. It is planned to attract an estimated four billion dollars in the project, he added.

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