January 20, 2017 6:21 PM ET

Oil, Gas and Consumable Fuels

Company Overview of State Oil Company of the Azerbaijan Republic

Company Overview

State Oil Company of the Azerbaijan Republic engages in the upstream, midstream, and downstream operations primarily in Azerbaijan, Turkey, the United Arab Emirates, Georgia, Switzerland, and other countries. The company operates in four segments: Oil and Gas, Refining, Construction, and Sales and Distribution. It is involved in exploring oil and gas fields; producing, processing, and transporting oil, gas, and gas condensate; marketing petroleum and petrochemical products; and supplying natural gas to industry and the public in Azerbaijan. The company also engages in the construction of administrative premises and assets for extraction of oil and gas condensate. State Oil Company of the Aze...

73 Neftchilar Avenue

Baku,  1000


Founded in 1992


994 12 521 02 82


994 12 521 03 83

Key Executives for State Oil Company of the Azerbaijan Republic

Chairman of The Council and President
Age: 51
Head of The Executive Office and Member of The Council
Age: 61
Vice President of Investments & Marketing and Member of The Council
Age: 56
Head of the Legal Department, Member of the Council and Member of Audit Committee
Age: 51
Vice-President of Human Resources, Information Technology & Regulations and Member of the Council
Age: 58
Compensation as of Fiscal Year 2016.

State Oil Company of the Azerbaijan Republic Key Developments

SOCAR May Hold IPO Of Its Subsidiaries

State Oil Company of the Azerbaijan Republic (SOCAR) may hold an initial public offering (IPO) of its subsidiaries in the future, said Elkhan Hasanov, head of investments and operations department at SOCAR Capital (SOCAR unit which operates in the securities market). There are no exact dates for holding the IPO and the companies whose shares may be put up for sale has not been selected yet, Hasanov said.

State Oil Company of the Republic of Azerbaijan and Azerbaijan International Operating Company Sign a Letter of Intent for the Future Development of the Azeri-Chirag-Gunashli

The State Oil Company of the Republic of Azerbaijan or SOCAR and AIOC or the Azerbaijan International Operating Company signed a letter of intent for the future development of the Azeri-Chirag-Gunashli or ACG field in the Azerbaijan sector of the Caspian Sea. The agreement will cover the development of the field until 2050 and will add significant resource development potential to the middle of the century. ACG produces circa 620,000 barrels of oil equivalent. The shareholders in AIOC are BP, Chevron, INPEX, Statoil, ExxonMobil, TPAO, ITOCHU and ONGC Videsh. The LoI agrees the key commercial terms for the future development of the ACG field and enables the parties to conclude negotiations and finalise fully-termed agreements in the next few months.

SOCAR Plans To Transfer Shares In Southern Gas Corridor To SOCAR Turkey

Rovnag Abdullayev, President of State Oil Company of the Azerbaijan Republic (SOCAR), said they were currently considering to transfer eight of the 58% of shares in Southern Gas Corridor CJSC to SOCAR Turkey Enerji A.S. and they have launched necessary initiatives with their partners in this regard and the transfer process is expected to become official in near future.

Recent Private Companies Transactions

October 10, 2016
OMV Petrol Ofisi AS, Aliaga Terminal

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
The Advertising Council, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact State Oil Company of the Azerbaijan Republic, please visit www.socar.az. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.