Azerbaijani-UK JV passes state registration
By Trend
A joint venture of Azerbaijan’s state oil company SOCAR and UK’s Petrofac international service provider to the oil and gas production and processing industry - SOCAR Petrofac passed state registration, Vergiler, the newspaper of Azerbaijan’s Taxes Ministry, reported April 18.
The company’s authorized capital will be 100,000 manats. The company is registered at the following address: Heydar Aliyev Ave., 121, Narimanov district, Baku. The official representative of the company is Azerbaijani citizen Ruslan Ibrahimov.
The joint venture’s Supervisory Board includes Fuad Suleymanov, Khalig Mammadov, Karim Osseiran and David Fisher.
The company passed state registration on February 22, 2018.
In December last year, SOCAR and Petrofac signed an agreement on the establishment of SOCAR Petrofac joint venture.
The joint venture is expected to render services for more advanced education and training for employees involved in international energy projects on the basis of modern programs.
The purpose of the establishment of SOCAR Petrofac joint venture is more effective use of commercial opportunities in training in the oil, gas and petrochemical sectors of Azerbaijan, raising the level of knowledge and skills of oil industry workers.
According to the agreement, SOCAR will own a 51-percent stake in the new joint venture, while Petrofac – 49-percent stake.
The agreement on joint venture was signed by SOCAR President Rovnag Abdullayev and Global Head of Training Services at Petrofac Engineering and Production Services Karim Osseiran.
The infrastructure of SOCAR’s Department of Education, Training and Certification will be used during the training.
(1.7 manats = 1 USD on April 18)
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