AtaSigorta Wins Tender of SOFAR

The insurance company AtaSigorta has insured the new administrative building of the State Oil Fund of Azerbaijan (SOFAR).

As said the fund, this structure was declared winner of the tender, and 30 December it signed a contract for insurance of the administrative building of SOFAR at 111 A, Heydar Aliyev Avenue.

Under the contract, compulsory insurance relates to a new 22-storey administrative building of the Fund in Baku and all its technical facilities (boiler room, electrical substation, heating and cooling systems), as well as cars and mandatory liability insurance of the property owner.

AtaSigorta received a license for insurance activity in September 2004 with paid-in share capital of 10 million. Manats. The sole shareholder is AtaHolding. In January-November last year, the financial structure of the award were at 8.6 million., Payments - 3,5 mln. AZN.

Extrabudgetary SOFAR created by decree of President December 29, 1999 and is accountable only to him. The fund accumulated income from the sale of oil contracts, in particular, from the sale of profit oil and gas state, transit tariffs for transportation of oil and gas across the country, from the lease of state property and others. --17D-