The Azerbaijan State News Agency

ECONOMY

SOCAR’S CAPITAL EXPENDITURES TO INCREASE

Capital expenditures of the State Oil Company of the Azerbaijan Republic will reach $300 million, up by 16.5% on the same period last year.

Installation and enlargement of platforms as well as drilling of new wells have driven the company’s capex higher. Five production platforms in the Guneshli oilfield will have been overhauled by the end of the year; one platform will be enlarged and two stationary platforms are set to be installed.

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