SOCAR established two companies in the framework of the project "Southern Gas Corridor"

The State Oil Company of Azerbaijan (SOCAR) has established two companies in the framework of the project "Southern Gas Corridor". Companies were established on July 24, the Ministry of Information has officially declared taxes (the government agency for registration of commercial legal entities) On August 20, a special issue of the newspaper Vergiler (Taxes).

Both companies (SOCAR Upstream Management Internatilonal and SOCAR Midstream Operations) located in the central office of SOCAR and have 1 000 manats share capital.

In February of this year for the project management second stage of Shah Deniz field, the expansion of the South Caucasus gas pipeline, Trans (TANAP) and the Trans-Adriatic (TAP) gas pipeline was established by the state JSC Cenub Qaz Dehlizi (Southern Corridor). The authorized capital of JSC was set at $ 100 million. The Ministry of Economy and Industry paid 51% and SOCAR paid 49% of the equity in the company. JSC is the founder of two companies (SGC Upstream and SGC Midstream).

In May and July the JSC issued bonds totaling $ 2 163 700 000, bought by the State Oil Fund of Azerbaijan. -08D--