SOCAR approves plan for next 25 years

The State Oil Company of the Azerbaijani Republic (SOCAR) has approved a plan for the upcoming 25 years, Trend cites SOCAR Vice President for economic affairs Suleiman Gasymov as saying.

The program is worth $33 billion and will be updated every once in a month.

Gasymov noted that SOCAR will spend $1.27 billion on development of oil and gas fields. The sum will be spent on drilling, construction of platforms and other activities, the vice president clarified.