|
Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
AZERBAYCAN RESPUBLIKASI DOVLET NEFT SHIRKETI |
|
|
|
|
Formerly Known As : |
GNKAR (GOSUDARSTVENNAYA NEFTYANAYA KOMPANIA RESPUBLIKI
AZERBAIJAN) |
|
|
|
|
Registered Office : |
Neftchillar Avenue 73 Sabail District Baku AZ1095 |
|
|
|
|
Country : |
Azerbaijan |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
24.11.1995 |
|
|
|
|
Legal Form : |
Limited Company own by the States |
|
|
|
|
Line of Business : |
Engaged in prospecting, exploration, extraction and
refining of crude oil and gas as well as sales of petrochemical products. |
|
|
|
|
No. of Employees : |
200 by decree of President of Azerbaijan |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit: |
New Manat 10,000,000 |
|
Status : |
Good |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Azerbaijan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
AZERBAIJAN - ECONOMIC OVERVIEW
Azerbaijan's high economic growth during 2006-10 was attributable to large and growing oil and gas exports, but some non-export sectors also featured double-digit growth, including construction, banking, and real estate. In 2012, economic growth picked up to 3.8%. Continued production declines in the oil sector were offset by strong growth in the non-oil sector. However, the non-oil sector growth may be driven primarily by government investment, which may not be sustainable if oil production continues to decline. Oil exports through the Baku-Tbilisi-Ceyhan Pipeline, the Baku-Novorossiysk, and the Baku-Supsa pipelines remain the main economic driver, but efforts to boost Azerbaijan's gas production are underway. The eventual completion of the geopolitically important Southern Gas Corridor between Azerbaijan and Europe will open up another, albeit, smaller source of revenue from gas exports. Azerbaijan has made only limited progress on instituting market-based economic reforms. Pervasive public and private sector corruption and structural economic inefficiencies remain a drag on long-term growth, particularly in non-energy sectors. Several other obstacles impede Azerbaijan's economic progress, including the need for stepped up foreign investment in the non-energy sector and the continuing conflict with Armenia over the Nagorno-Karabakh region. Trade with Russia and the other former Soviet republics is declining in importance, while trade is building with Turkey and the nations of Europe. Long-term prospects depend on world oil prices, Azerbaijan's ability to negotiate export routes for its growing gas production, and its ability to use its energy wealth to promote growth and spur employment in non-energy sectors of the economy.
Source
: CIA
Azerbaycan Respublikasi Dovlet Neft Shirketi (Correct)
SOCAR - THE STATE OIL COMPANY OF AZERBAIDJAN REPUBLIC
(Requested)
Street : Neftchillar
Avenue 73
Area : Sabail
District
Town : Baku AZ1095
Country : Azerbaijan
Telephone: (994 12) 521 0000 ext. 10016 (Saru Gasimov) /
ext. 10183 (Legal Department) / 521 0201 / 521 0317 / 521 0129 (Vugar Gasanov)
/
521 0122 (Nazim
Ismayilov) / 521 0053 (Financial Department) / 521 0084 /521 0057 / 521 0335 /
521 0203 / 521 0171 (Economic Department) / 521 0152 / 521 0190 / (994 50) 210
2130 (Azer Kurbanov) / 521 0332
Fax : (994 12)
521 0383 / 521 0173 / 521 0168
E-Mail :
info@socar.az / azer2000@rambler.ru
Website :
www.new.socar.az
Shortform Name : SOCAR / ARDNSh
English Translation : State Oil Company Of Azerbaijan
Republic (SOCAR)
Also Known As : GNKAR (Gosudarstvennaya Neftyanaya Kompania
Respubliki Azerbaijan)
Name Position
1. Rovnag Ibrahim Oglu Abdullayev President
2. Khoshbakht Yusifzade First
Vice President / Geology,
Geophysics
and Field Development
3. Elshad Nasirov Vice President /
Investments &
Marketing
4. David Mammadov Vice
President / Refining
5. Mikayil Ismayilov Vice President
6. Badal Badalov Vice President /
Social Issues
7. Khalik Mammadov Vice
President / Human Resources,
Information
Technologies
8. Rahman Gurbanov Vice President /
Oil-gas
Production
and Transportation
9. Tofig Gahramanov Vice President /
Strategic
Development
10.Suleyman Gasymov Vice
President / Economics Issues
11.Rafiga Huseyn-Zade Vice
President / Ecology
12.Vugar Sharifov Head of Economic
Department
13.Anver Gasimov Deputy Head of
Economic
Department
14.Nazim Ismayilov Chief Accountant
15.Vagif Mustafaev Deputy Chief
Accountant
16.Rashid Guseinov Deputy Chief
Accountant
17.Azer Kurbanov Import Manager at
Social
Development
Department
18.Saru Gasimov Deputy Head of
Legal Department
19.Vugar Gasanov Press-Service
Manager
Total Employees : 80,000
No complaints have been heard regarding payments from local
suppliers
or banks.
Subject is the biggest producer of oil and gas in Azerbaijan
and is
owned by the state.
We consider it is acceptable to deal with subject for LARGE
amounts,
although it is normal
accepted practice for international suppliers
to deal on secured terms with Azerbaijani importers.
Opinion on maximum credit : NEW MANAT 10,000,000 - Low to
mid eight
figure credits (NEW MANAT) will not be
considered unusual for this important
company. However when much high amounts
are involved, terms should
be clearly
stipulated.
Trade risk assessment : Normal
According to local press release by news.az dated 23
February 2011:
SOCAR starts drilling two wells at Darwin’s Bank
The State Oil Company of Azerbaijan started drilling two new
wells at the Darwin’s Bank field.
According to sources in the company, the well is drilled
from platform No 660. According to geologists, after their commissioning, the
daily oil production from each will make up 6 tons. Platform No 660 is intended
for drilling 12 wells.
The Darwin’s Bank field has been developed since 1950.
Through this period 651 wells have been drilled and 16,200,000 tons of oil
produced. The residual field reserves are estimated at 3,000,000 tons.
Currently, 114 wells are in operation, producing 205 tons of oil daily.
NAME :
INTERNATIONAL BANK OF AZERBAIJAN
Branch : Nizami
Street 67
Town : Baku
Telephone: (994 12) 498 1053 / 493 1842
Fax : (994 12)
493 4091 / 498 1158
Acc. No. :
AZ38IBAZ38010019449306332120 (AZN)
Acc. No. :
AZ28IBAZ38110018409306332120 (USD)
Acc. No. : AZN 330201
Corr. Acc.: 0137010002944
SWIFT Code: IBAZAZ2X
VOEN : 9900001881
Code : 805250
Consolidated Balance Sheets as at 31 December 2011 showed
(latest available):
2011 2010
(in
thousands of NEW MANAT)
ASSETS
Current assets
Cash and equivalents 1,157,744 961,761
Restricted cash 94,370 656,193
Trade and other receivables 2,740,803 2,392,856
Inventories 936,145 790,021
Other current financial assets - 12,961
Total current assets 4,929,062 4,813,792
Non-current assets
Property, plant and equipment 8,919,860 8,252,730
Goodwill
103,248 123,448
Intangible assets other than goodwill 405,491 499,813
Investments in jointly controlled
entities 392,399 265,894
Investments in associates 1,186,370 351,085
Loans receivable from
jointly controlled entities 178,484 263,235
Deposits
- 399,011
Deferred tax asset 483,483 408,972
Other long-term financial assets 82,365 79,148
Other long-term assets 279,149 220,640
Total non-current assets 12,030,849 10,863,976
TOTAL ASSETS 16,959,911 15,677,768
LIABILITIES
Current liabilities
Trade and other payables 2,806,900 2,445,829
Short-term and current portion
of long-term borrowings 761,518 996,832
Corporate income tax payable 22,169 1,979
Taxes payable 435,521 229,931
Other provisions for liabilities and
charges 66,124 199,077
Deferred acquisition consideration
payable - 272,935
Total current liabilities 4,092,232 4,146,583
Non-current liabilities
Long-term borrowings 2,218,770 2,062,844
Asset retirement obligations 468,384 324,632
Other provisions for liabilities and
charges 246,765 282,194
Deferred income 94,401 101,183
Deferred tax liability 506,336 509,140
Other non-current liabilities 84,403 91,097
Total non-current liabilities 3,619,059 3,371,090
TOTAL LIABILITIES 7,711,291 7,517,673
EQUITY
Charter capital 1,059,258 632,732
Additional-paid-in-capital 784,809 236,526
Retained earnings 6,749,596 6,691,653
Cumulative translation differences (77,272) (105,095)
Equity attributable to equity
holders of the Group 8,516,391 7,455,816
Non-controlling interest 732,229 704,279
Total equity 9,248,620 8,160,095
TOTAL LIABILITIES AND EQUITY 16,959,911 15,677,768
PROFIT AND LOSS ACCOUNT
Revenue
8,132,731 5,527,265
Cost of sales (5,391,983) (3,255,907)
Gross profit 2,740,748 2,271,358
Distribution expenses (437,154) (256,030)
General and Administrative expenses (296,458) (282,196)
Losses on disposal of property,
plant and equipment (25,731) (23,915)
Social expenses (308,353) (199,904)
Exploration and evaluation expenses (2,158) (6,742)
Research and development (14,787) (21,917)
Other operating expenses (262,025) (326,270)
Other operating income 149,003 178,578
Operating profit 1,543,085 1,332,962
Finance income 672,400 67,175
Finance costs (210,950) (175,191)
Foreign exchange losses, net (412,888)
(91,510)
Share of result of jointly
controlled entities 19,221 6,390
Share of result associates 173,976 99,080
Loss on disposal of joint
ventures and associates - (902)
Profit before income tax 1,184,844 1,238,004
Income tax expense (375,251) (582,264)
Profit for year 809,593 655,740
Other comprehensive income
Currency translation differences (111,586) (16,363)
Total comprehensive income for the
year 698,007 639,377
Profit is attributable to:
Equity holders of the Group 953,749 670,987
Non-controlling interest (144,156) (15,247)
809,593 655,740
Total comprehensive income attributable
to
Equity holders of the Group 981,572 709,150
Non-controlling interest (283,565) (69,773)
698,007 639,377
Financial year ends 31 December.
Date Started : 24 November 1995
History : Subject has its origins in a private company which
was
established in 1870s. In 1920s the company was nationalized.
At different times the company has been carrying different names :
Azneftcomitte, Azneftkombinat, Azerneft, Azerneft Zavodlar, Azernaftgayirma,
Aznaftchikarma.
The subject company was established in Azerbaijan on 24
November 1995, however the origins can be traced back to 13 September 1992, by
the merger of Azerbaijan's two state oil companies, Azerineft and Azneftkimiya.
On 10 January 1994 in accordance with the President's Decree No. 50 Oil and Gas
Exploration Production Unions were created within the subject. Subject's former
President Natik Aliyev was appointed Azerbaijan's Minister of Industry and
Energy in January 2006.
C.R. No. : 200 by decree of President of Azerbaijan
Tax No. : VOEN 9900003871
Authorised Capital : NEW MANAT 1,059,258,000 (increased from
NEW MANAT 632,732,000 in 2011)
Paid-Up Capital : NEW MANAT 1,059,258,000 (increased from
NEW MANAT 632,732,000 in 2011)
State owned company fully responsible for its own
undertakings.
Affiliated companies of State Oil Company Of Azerbaijan
Republic :
Subsidiaries
1. Azeriqaz
Production Union
(Azeriqaz
Istehsalat Birliyi)
Yusif Safarov
Street 23
Khatai District
Baku AZ1025
Telephone: (994
12) 490 43 34
Fax : (994 12) 490 42 92
Est.: 17 March
1997
Tax No.:
9900001621
Capital : NEW
MANAT 616,526,354.55
2. Azneft Production
Union
(Azerbaycan
Respublikasi Dovlet Neft Sirketi "Azneft" Istehsalat
Birliyi)
Aga Nematulla
Street 39
Narimanov District
Baku AZ0033
Telephone: (994
12) 567 0133
Fax : (994 12) 521 1155
Est.: 16 June 2003
Tax No.:
9900010511
Capital : NEW
MANAT 1,467,577
3. Azerikimya
Production Union
(Azerbaycan
Respublikasi Dovlet Neft Sirketinin “Azerikimya”
Istehsalat
Birliyi)
Samed Vurgun
Street 86
Sumqayit AZ5000
Telephone: (994
12) 497 6386
Fax : (994 12) 447 8275
Est.: 12 March
1993
Tax No.:
9900001191
Capital : NEW
MANAT 10,006,09.86
4. Heydar Aliyev
Adina Baki Darin Ozullar Zavodu
(Heydar Aliyev Baku
Deep Water Jacket Factory)
Salyan Highway 83
Qaradaq District
Baku AZ1083
Telephone: (994
12) 521 0000
Fax : (994 12) 521 1846
Managing Director
: Safikhan Rustam Oglu Mamedov
Employees : 2,000
Est. : 31 March
2004
Tax No.: VOEN
9900009151
Capital : NEW
MANAT 51,608,570
5. SOCAR-CSCR MMC
Sabail District,
Neftchiler Avenue 73
Baku AZ1095
Managing Director
: Imanverdi Aliqulu Oglu Hasanov
Est.: 9 March 2010
Tax No.: VOEN
1701091921
Capital : NEW
MANAT 100
Shareholder :
- Caspain
Ship Construction and Repair MMC
-
Azerbaycan Respublikasi Dovlet Neft Shirketi
6. SOCAR Qalf QSC
Nasimi District,
Samed Vurgun Street 86, Mahalle 667
Baku AZ1022
Managing Director
: Vasif Miryusif Oglu Abdulkarimov
Est.: 5 May 2011
Tax No.:
1401984651
Capital : NEW
MANAT 100,000
7. Baki Gemiqayirma
Zavodu MMC
N. Aliyev Street
38A, Block 1130-33
Baku AZ1025
Telephone: (994
12) 464 1537
Fax : (994 12) 464 1537
E-Mail : hasanov@gmail.com
Est.: 10 May 2011
Tax No.: VOEN
1701212051
Capital : US DLRS
30,000,000
8. SOCAR Petroleum
QSC
Istiqlaliyyet
Street 31
Sabail District
Baku
Telephone: (994
12) 437 1068
Fax : (994 12) 437 1067
Managing Director
: Orkhan Abbas Oglu Huseynov
Est.: 15 September
2008
Capital : NEW
MANAT 30,000
Shareholders :
- A.P.
International LLC (USA)
-
Azerbaycan Respublikasi Dovlet Neft Shirketi
9. Ekol Muhendislik
Xidmetlri QSC
(Ekol Engineering
Services CJSC)
Babek Avenue 10B
Khatai District
Baku AZ1025
Telephone: (994
12) 464 1435 / 464 1440
Fax : (994 12) 464 1435
Est.: 1 March 2006
Tax No.: VOEN
1600506211
10. AAS-Ekol MMC
Maskva Avenue,
Mahalle 3001
Nasimi District
Baku AZ1102
Managing Director
: Vaqif Imran Oglu Amrahov
Est.: 1 February
2010
Tax No.: VOEN
1401740701
Shareholders:
- Ekol
Muhendislik Xidmetlri QSC
- AA
Services Ltd (British Virgin Islands)
11. Azerbaycan Respublikasi Dovlet Neft Shirketinin Sosial Inkishaf
Idaresi
Uzeyir Hacibeyov
Street 16
Sabail District
Baku
Telephone: (994
12) 521 1407 / 521 1434 / 512 0245 / (994 50) 210
2130
Fax : (994 12) 521 1434
Managing Director:
Gasym Ibragimov
Est.: 2006
Tax No.: VOEN
9900077081
12. Azerbaycan Respublikasi Dovlet Neft Shirketi
“Azerneftyag” Neft
Emali Zavodu
Nobel Avenue 64
Khatai District
Baku AZ1026
Managing Director
: Rovshan Imran Oglu Hasanov
Est.: 10 July 2003
Tax No.: VOEN
9900013011
13. Azerbaycan Respublikasi Dovlet Neft Shirketinin
Ekologiya Idaresi
Neftchillar Avenue
73
Sabail District
Baku AZ1005
Managing Director
: Azer Hasan Oglu Aliyev
Est.: 3 November
2006
Tax No.: VOEN
9900080151
Capital : NEW
MANAT 835,444
14. Azerbaycan Respublikasi Dovlet Neft Shirketinin
Geofizika ve
Geologiya Idaresi
Heydar Aliyev
Avenue 83A
Narimanov District
Baku AZ1033
Managing Director
: Vaqif Adil Oglu Abdullayev
Est.: 16 February
2006
Tax No.: VOEN
9900028391
Capital : NEW
MANAT 124,934,760
15. Heydar Aliyev Adina Baki Derin Ozuller Zavodu
Salyan Highway
Sahil Qesebesi
Qaradag District
Baku AZ1083
Managing Director
: Ayaz Agaverdi Oglu Qarayev
Est.: 31 March
2004
Tax No.: VOEN
9900009151
Capital : NEW
MANAT 51,608,570
16. Bakı Ali Neft Mektebi
Joint ventures, operating companies and alliances founded by
SOCAR
and foreign companies :
Joint ventures:
- Azerbaijan John Brown CJSC
- "ANSHAD Petrol" JV
- AzGerneft LLC
- "Shirvan Oil" JV
Operating companies:
- Azerbaijan International Operating Company (AIOC)
- "BP (Shah-deniz) OC
- Caspian Pipe Coatings LLC
- Kayman Adalarinin Salyan Oyl Limited Sirketinin Azerbaycan
Respublikasindaki
Filiali
Ahmed Recebli Street
27B
Narimanov District
Baku AZ1052
Telephone: (994 12)
497 7415
Fax : (994 12) 497 7419
Est.: 12 May 1999
C.R. No. : 560
Tax No. : VOEN
9900065021
- "Karasu" OC
- "Gobustan" OC
- "Binagadi" Oil Company
- "Surakhani Oil" OC S.A.
- "Azerbaijan ShengLi" Oil Company
- "MEP Garachukhur" OC
- "Kura Valley" OC
- "Absheron" OC
- Sarmatia LLC
- SOCAR Baghlan CJSC
- SOCAR Cape LLC
- SOCAR Energy Georgia LLC
- SOCAR Gas Supply LLC
- SOCAR UGE LLC
- SOCAR UMID LLC
- SUPRA Holding Limited LLC
Joint venture on insurance:
- Ateshgah Insurance Company CJSC
Joint ventures on drilling:
- Azeri Drilling Company LLC
- Caspian Drilling Company JV
- SOCAR-AQSh MMC
Racabli Street 40
Baku AZ1052
Telephone: (994 12)
565 1515
Fax : (994 12) 565 1555
Managing Director :
Ramin Isayev
Employees: 400
Est.: 19 December
2007
Tax No.: VOEN
1700490591
Capital : US DLRS
100,000
Shareholders:
- Azerbaycan
Respublikasi Dovlet Neft Shirketi - 51%
- Absheron
Qazma LLC - 49%
Joint Venture on engineering-technological exploration:
- Azeri-Fugro LLC
Joint venture on gunpowder production, drilling mud
production:
- Azeri M-I Drilling Fluids Ltd JV
Karat Business
Centre, 6th Floor
M. Mukhtarov Street
201
Baku AZ1065
Telephone: (994 12)
497 4213 / 497 4219
Fax : (994 12) 497 2221
General Manager :
Nicolas Hore
Employees: 250
Est.: 31 January
1997
C.R. No. : 141
Tax No.: VOEN
9900004251
Capital : US DLRS
100,000
Shareholders:
- Azerbaycan
Respublikasi Dovlet Neft Shirketi - 51%
- M-I
LLC
- 49%
Poultry and egg farming:
- "Azertell" Joint Venture
Construction sector activities:
Joint ventures:
- Azfen Birge Muessisesi
(Azfen JV)
Istiglaliyyat Street
31
Baku AZ1001
Telephone: (994 12)
492 5835 / 492 5725
Fax : (994 12) 492 5727
General Manager :
Hamid Gasanov
Employees: 1,600
Est.: 11 January
1996
C.R. No. : 1006
Tax No.: VOEN
9900016611 (formerly 170002547)
Capital : NEW MANAT
276,885
Shareholders:
- Azerbaycan
Respublikasi Dovlet Neft Shirketi - 60%
- Tekfen
Insaat ve Tesisat AS -
40%
- Azneftgastikinti LLC
- Caspian Offshore Fabricators LLC
- Caspian Shipyard
Company LTD
South Bay KMNF
Shipyard
Baku AZ1023
Azerbaijan
Telephone: (994 12) 449 9930
Fax :
(994 12) 449 9931
E-Mail :
csc@csc.az
President: Yan
Naing Myint
Employees: 1,000
Est.: 15 December
1997
C.R. No. : 307
Tax No.: VOEN
99000046321
Capital : US DLRS
200,000
Alliances:
SOCAR - A.J. Crane
Laboratory activities:
- AzLab LLC
Gas compression and sales:
- AzTurgas Joint Venture
Production of explosives:
- "Energy Solutions Group" CJSC
Media:
- "Interfax-Azerbaijan" LLC
Joint venture on geophysical surveys:
- Caspian Geophysical Company JV
Joint venture on service of the oil and gas equipment:
- Oyl and Qas Proserv MMC
(Oil and Gas Proserv
LLC)
Tagizade Street 21
Khatai District
Baku AZ1025
Telephone: (994 12)
490 7306 / 490 8459
Fax : (994 12) 490 8458
Est.: 7 July 2005
Tax No.: VOEN
2000489761 (issued date 22/07/2005)
Capital : EURO
100,000
- "SOCAR - KPSh" LLC
Joint venture on transport works
- "Gross Caspian & Gas Logistics" LLC
Sale of oil products :
- "SOCAR Energy Georgia" LLC
Oil pumping:
- Carlina Overseas Corporation
Operating companies on pipeline transport:
- BTC Co.
- South Caucasus Pipeline
Alliances on ship management:
- SOCAR CSOF - BUE Caspian
- SOCAR CSOF – Tidewater
- SOCAR - CMS
Alliance on logistics:
- SOCAR – CSM
Joint venture on purification works in oil pipelines and
collectors
- "SOCAR - Rodan" LLC
Joint venture on cutting and transportation of metal structures
:
- "SOCAR - ASM" LLC
Joint venture on implementation of new projects in Turkey :
- SOCAR Turcas Energy Anonim
The Company is involved in the following activities :
Engaged in prospecting, exploration, extraction and refining
of crude
oil and gas as well as sales of petrochemical products.
Subject operates as a social development department (Sosial
Inkisaf Idaresi) of SOCAR.
Oil production volume : 8,944,400 tonnes - 2002
8,924,700 tonnes - 2003
8,976,400 tonnes – 2004
8,967,400 tonnes - 2005
8,993,800 tonnes - 2006
8,800,900 tonnes - 2007
8,651,300 tonnes - 2008
9,543,300 tonnes - 2009
8,459,700 tonnes – 2010
8,400,900 tonnes – 2011
8,242,580 tonnes – 2012
Gas production volume : 4,191.7 million cubic meters - 2002
4,152.4 million cubic meters - 2003
3,999.8 million cubic meters – 2004
3,930.6 million cubic meters - 2005
4,456.0 million cubic meters - 2006
5,997.6 million cubic meters - 2007
7,752.6 million cubic meters - 2008
6,903.0 million cubic meters – 2009
7,178.9 million cubic meters – 2010
7,084.2 million cubic meters – 2011
6,885.1 million cubic meters – 2012
Imports equipment from European countries, USA and Japan.
Exports to European countries.
Since 1994, the subject has signed 25 major production
sharing
agreements with consortiums of foreign companies and two
major
pipeline agreements - BTC (Baku-Tbilisi-Ceyhan) and SCP
(Southern
Caucasus Pipeline).
The Company has the following facilities :
Office premises located at the heading address.
Subject has the following oil-gas development units :
- 51 units for onshore oil and gas extraction including 6
drilling
and exploratory
directorates, 10 oil-gas production directorates,
10 technical
transportation directorates, oil and gas research and
engineering
institutes and construction directorates;
- 32 units for offshore oil and gas extraction including 4
drilling
and exploratory
directorates and 10 oil-gas production
directorates;
- 6 geophysical and geological units including scientific
research
institute;
- oil refineries "Azerneftyag" and
"Azerneftyanajag";
- oil machinery facilities including 9 factories;
- main oil pipeleine unit;
- trusts including "Kasmorburstroy" bore
construction,
"Kasmosotzstroy" social facilities construction,
"Shelfpryektstroy"
and oil repairing trust;
- commissioning and automation enterprise.
Neftchillar Avenue 73
Sabail District
Baku AZ1095
You enquired on: SOCAR - THE STATE OIL COMPANY OF
AZERBAIDJAN REPUBLIC is incorrect. Please note that the correct registered name
is as per heading.
The postal address given by you: AZ1000, Baku is incorrect.
Please note that subject’s administrative office postal address is as per
heading.
Interviewed: Vugar Gasanov (Press-Service Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
|
1 |
Rs.86.01 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.