SOCAR – the State Oil Company of the Azerbaijan Republic

SOCAR – the State Oil Company of the Azerbaijan Republic

In 1990, SOCAR was a national Azerbaijani company with a small global production level, but 20 years later it has become a respected player in the world oil market.


The State Oil Company of the Azerbaijan Republic (SOCAR) is now the main gas supplier to Turkey. A year ago Azerbaijani gas was in 4th-5th place in the Turkish market, now we are in first place, which is very important for us and for Turkey, because gas provides energy security for any country.

Turkey occupies a special place in SOCAR’s investment projects, where the company bought a large petrochemical complex Petkim, built a STAR refinery, and is developing a transport and logistics direction. In addition, the company has a wide business in Georgia, owning a network of gas stations and gas distribution networks.


According to the company’s most recent audit report, SOCAR’s turnover in 2019 was $50 billion, with 93% of this turnover coming from operations in the foreign markets.


Information Source: Read More…..


Submitted by: Press release
Mamed Gasanov, SOCAR, The Republic of Azerbaijan, Email: Gasanov@socar.az


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