SOCAR Energoresource inks cooperation deal with Russia's Tyumen region

25 September 2020 16:15 (UTC+04:00)

By Ayya Lmahamad

Azerbaijan’s State Oil Company (SOCAR) has signed a socio-economic cooperation agreement with Russia’s Tyumen region.

The agreement was signed between SOCAR Energoresource CEO Farid Jafarov and the Governor of the Tyumen region of Russia Alexander Moor at part of the Tyumen Oil and Gas Forum.on September 23, local media has reported.

SOCAR Energoresource CEO noted that the agreement defines the main directions of companies’ cooperation for the next four years.

"Since the company's foundation, we have been aimed at effective, long-term and mutually beneficial cooperation with regional authorities, which will not only contribute to the development of our enterprise, but also create favorable conditions for the development of the economy and social sphere of the entire Tyumen region," he said.

Moreover, it was noted that the parties intend to jointly address the issues of ensuring stable social and economic development of Tyumen region through charitable programs and investment projects, including in the form of public-private partnership.

SOCAR Energoresource acquired an equity interest in Antipinsky Refinery - one of the largest taxpayers in the Tyumen Region in June 2019, and carries out sales of oil products manufactured by the refinery in Russia and abroad. Since 2020, SOCAR Energoresource has started implementing charitable projects in Tyumen region aimed at supporting city initiatives and low-income population groups.

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