SOCAR functionaries earn 1.699 million manats a year

17:35 - 27.06.2024

June 27, Fineko/abc.az. During 2023, the State Oil Company of Azerbaijan (SOCAR) paid 1.699 million manats to the general management. At the time of submission of the report, the general administration included the SOCAR president and his 10 vice presidents, ABC.AZ informs, referring to SOCAR's consolidated audit report.

The total amount of payments to management in 2022 amounted to 1.84 million manats. And in 2022, SOCAR had president, its first vice president and 9 vice presidents.

Thus, payments to the management of the largest oil & gas company in the region decreased by 185,000 manats or 10% compared with 2023.

All members of the general management of SOCAR as a group of companies are appointed by the Azerbaijani President. Members of the general management are entitled to receive salaries and bonuses in accordance with the approved salary schedule, as well as payments due to the fact that they are members of the Board of Directors in certain companies of the group of companies.