In 2014 the State Oil Fund of Azerbaijan (SOFAZ) will continue funding the projects in the oil industry.
According to the draft of state and consolidated budgets for fiscal year 2014, next years it is planned to fund share of the State Oil Company of Azerbaijan (SOCAR) in the following projects at the expense of the Fund:
- construction of the oil and gas and petrochemical complex in Baku’s Garadag region;
- construction of Star oil refinery in Izmir, Turkey;
- construction of the trans-Anadolu gas pipeline (TANAP);
- construction of semi-submersible drilling rigs;
In addition, it is planned to continue funding the projects to improve living conditions of refugees and internally displaced people, reconstruction of the Samur-Absheron canal and Baku-Tbilisi-Kars railway at the expense of the Fund.
SOFAZ has already funded some oil projects this year and it has been funding other projects for several years.
It is planned to allocate 1,921,100,000 AZN for these projets.—0—
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