OREANDA-NEWS. June 22, 2011. SOCAR representatives held a presentation for receiving a rating by the S&P international agency. Opening the meeting, SOCAR President Mr. Rovnag Abdullayev spoke about close cooperation between the Company and International rating agency, reminding ratings given by Fitch Ratings in 2009 and Moody’s agency in 2010, and noted these ratings would be better year-by-year. Mr. Abdullayev expressed hope that after acquaintance with SOCAR, representatives of S&P agency would give an appropriate rating to the company.

Company president informed about SOCAR’s important role in Azerbaijan’s economy and country’s socio-economic life. As he mentioned, though SOCAR is a state-run company, it operates as a commercial organization. Mr. Abdullayev noted state’s continuous support to the company and spoke about SOCAR’s activity, recent success, large-scale international projects, as well as investment projects implemented in foreign countries.

According to him, Azerbaijan has become one of the main participants in maintenance of Europe’s energy supply. From this point of view, SOCAR represented Azerbaijan in the carried out regional projects. Besides, he added that Company mainly prefers more risk-free and profitable projects.

Mr. Abdullayev spoke about prospective projects, development perspectives of SOCAR. Mr. Elena Anankina, General Director of S&P Moscow Office introduced Mr. Simon Redmond, Director of S&P London office to the participants. Thereafter, a presentation reflecting SOCAR’s structure, subsidiaries, production indicators, the projects attended by the company was held for the S&P representatives. The questions of the agency representatives were responded by Mr. Rovnag Abdullayev, vice-presidents and heads of appropriate offices.