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February 11, 2016 1:20 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 exploring, producing, processing, marketing, and transporting oil, gas, and gas condensate. The company also engages in marketing petroleum and petrochemical products; and supplying natural gas to industry and public sectors. It serves customers in Azerbaijan and internationally. The company was founded in 1992 and is based in Baku, Azerbaijan with representative offices in Georgia, Turkey, Romania, Austria, Switzerland, Kazakhstan, Great Britain, Iran, Germany, and Ukraine; and trading companies in Switzerland, Singapore, Vietnam, Nigeria, and other countries. It also has a network of fuel stations in Ukraine.

73, Neftchilar Avenue

Baku,  1000


Founded in 1992


994 12 521 03 32

Key Executives for State Oil Company of the Azerbaijan Republic

Chairman of The Council and President
Age: 50
Head of The Executive Office and Member of The Council
Age: 60
Vice President of Investments & Marketing and Member of The Council
Age: 55
Head of the Legal Department, Member of the Council and Member of Audit Committee
Age: 50
Vice-President of Human Resources, Information Technology & Regulations and Member of the Council
Age: 57
Compensation as of Fiscal Year 2015.

State Oil Company of the Azerbaijan Republic Key Developments

State Oil Company of the Azerbaijan Republic Announces Results of the Invitation to Tender for Purchase for Cash

State Oil Company of the Azerbaijan Republic announced results of the invitation to tender for purchase for cash any and all of its outstanding USD 500,000,000 with 5.45% senior unsecured notes due 2017. On 18 January 2016, State Oil Company of the Azerbaijan Republic launched an invitation to all holders to tender any and all of their notes for purchase by the issuer for cash, a tender offer memorandum dated 18 January 2016. The issuer announced that it will accept for purchase USD 402,943,000 in aggregate principal amount of the notes validly tendered pursuant to the invitation. The invitation expired at 5:00 p.m. London time on 26 January 2016. The expected settlement date for the invitation is 29 January 2016. On the settlement date, the issuer will pay the purchase price of USD 1,020 per USD 1,000 in principal amount of notes, plus accrued interest, in respect of notes validly tendered pursuant to the invitation and accepted for purchase by the issuer. The accrued interest to be paid by the issuer in respect of each USD 1,000 in principal amount of notes accepted for purchase will be USD 25.74 (rounded to the nearest USD 0.01). Principal amount outstanding after settlement date is USD 97,057,000.

SOCAR Will Not To Be Privatized

President of Azerbaijan, Ilham Aliyev, invited Russian investors to take part in privatization of state-owned companies. The President made such a statement on the sidelines of the World Economic Forum in Davos. Azerbaijan's state-owned oil company, State Oil Company of the Azerbaijan Republic, will not be privatized but will remain a strategic government asset, Ilham Aliyev said.

State Oil Company of the Azerbaijan Republic to Form Joint Venture with Uzbekneftegaz

State Oil Company of the Azerbaijan Republic (SOCAR) has agreed to form a joint venture with "Uzbekneftegaz" National Holding Company to apply energy technologies in oil and gas sphere.

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