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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, Market

Azerbaijan’s State Oil Fund starts funding of new project

Posted on 02 September 2013

The State Oil Fund of Azerbaijan (SOFAZ) has already invested about 70 million manats in the construction of a new generation floating drilling rig in Azerbaijan, SOFAZ head Shahmar Movsumov told Trend on Friday. A part of the financing of the new projects will be carried out by SOFAZ.
Alongside with the new drilling rig the new projects include the construction of Trans Anatolian Gas Pipeline (TANAP), construction of new oil refinery of the State Oil Company of Azerbaijan (SOCAR) in Turkey, creation of new oil and gas refining and oil and chemical products producing complex in Azerbaijan, as well as the project of development of the broadband internet in the country………………………………………..Full Article: Source


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