Member companies of Caspian European Integration Business Club (CEIBC) held a meeting with the Vice President for Economic Affairs of the State Oil Company of the Republic of Azerbaijan (SOCAR) Suleyman Gasymov in Baku on September 17. At the meeting the prospects of economic cooperation with member companies of the Caspian European Integration Business Club were discussed.
Addressing the meeting, Suleyman Gasymov expressed high evaluation to present initiative of CEIBC for such meetings promote maintenance of business-government dialogue, exchange of opinions, discussion of proposals about prospects of new projects’ development.
According to him, SOCAR is engaged not only in production and supply of oil-gas resources to the market. It also attaches big importance to education issues.
He provided detailed information about the work that SOCAR had implemented since the previous meeting held with CEIBC member companies. Thus, according to the results of the last year meeting, established was a cooperation with CEIBC companies, S.Gasymov noted. In particular, a big project concerning transformations in the field of payment for labor was implemented.
“Today, the system of transfer of financial resources has become fully transparent. International anti-corruption standards were fully worked out and introduced in SOCAR”, he proceeded.
S.Gasymov also spoke about financial activity of SOCAR and provided full information about the second Eurobond transaction tranche. According to him, the State Oil Company is currently considering an opportunity of placement of the third tranche as well. S.Gasymov spoke about placement of registered securities at London Stock Exchange. In the meantime, the prospect of placement of securities in the domestic market is being considered.
According to him, SOCAR has developed and approved a financial strategy.
SOCAR Vice President Suleyman Gasymov was presented CEIBC honorary membership certificate. New CEIBC member companies were also presented certificates. Participating in the meeting of CEIBC were executives of companies and representatives of a number of diplomatic agencies accredited in Azerbaijan.
