SOCAR becomes minority shareholder of SOCAR Energoresurs Group in Russia
By Trend
State Oil Company of Azerbaijan (SOCAR) completed necessary procedures and became a minority shareholder of the SOCAR Energoresurs Group in Russia, Trend reports citing the company.
SOCAR Energoresurs Group unites Antipinsky Refinery and three oil fields with 45 million tons of proven oil reserves in Orenburg Oblast, Russia.
SOCAR’s main role in this project is to provide managerial expertise to Antipinsky Refinery. Given the structure of the agreement, SOCAR’s participation in the Antipinsky Refinery does not create risks for SOCAR related to the refinery’s previous debts.
Antipinsky Refinery has annual production capacity of 7.5 million tons. It produces diesel, vacuum gasoil, naphtha, gasoline (A80 and A92), coke, technical sulfur, process oil and liquefied gas.
SOCAR is involved in exploring oil and gas fields, producing,
processing, and transporting oil, gas, and gas condensate,
marketing petroleum and petrochemical products in domestic and
international markets, and supplying natural gas to industry and
the public in Azerbaijan. Three production divisions, one oil
refineries and one gas processing plant, a deep water platform
fabrication yard, two trusts, one institution, and 23 subdivisions
are operating as corporate entities under SOCAR.
SOCAR conducts various petroleum activities in countries such as
Georgia, Turkey, Romania, Switzerland, Germany and Ukraine,
including trading activities, mainly in Switzerland, Singapore and
Nigeria.
---
Follow us on Twitter @AzerNewsAz